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Proton Motor Board Undergoes Another Change

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February 6, 2017

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Proton Motor Board Undergoes Another Change

Proton-logo-webThe German fuel cell manufacturer Proton Motor based in Puchheim had already experienced major management changes last summer, with Achim Loecher leaving his executive position at the end of July, and Thomas Melczer stepping down from both his executive and non-executive role in the company. Melczer became director of business development and investor relations at parent company Proton Power Systems in December 2010 and temporarily assumed the role of Proton Motor Fuel Cell’s CEO. In 2007, he founded SPower Holding, which specializes in fuel cell UPS systems. It was taken over by Proton Power in 2013 and was later integrated into the German subsidiary. Loecher was CFO of the German business from 2007 to 2016 and remains a non-executive director on Proton Power’s board of directors.

As it has not been clear yet who will succeed Melczer and Loecher, the German subsidiary is being managed by Proton Power CEO Faiz Francoise Nahab and Chair Ian Peden for the time being. In August 2016, however, British-based Proton Power Systems announced further restructuring efforts. It intends to create three divisions for its business activities – maritime, mobile and stationary – to allow each business unit to focus more intensively on its field of activities as soon as the market picks up. Alliance News reported that Proton Power Systems had had to cope with a larger-than-expected loss in the first half year of 2016, but remained confident about market prospects.

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After Heliocentris and SFC, Proton Motor is the third fuel cell business whose shares dropped by more than 90 percent compared to their price on the issue date. At Heliocentris, who files for bankruptcy in October 2016, the uncertainty …

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