Plug Power Names Jose Luis Crespo as Incoming CEO to Succeed Long-Term Leader Andy Marsh

CEO transition to take effect in March 2026

SLINGERLANDS, N.Y., Oct. 07, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in end-to-end hydrogen solutions for the hydrogen economy, today announces the appointment of Jose Luis Crespo as President, effective as of October 10, 2025, and as its new Chief Executive Officer, to be effective as of the date the company files its Annual Report on Form 10-K for the year ended December 31, 2025, expected March 2026. Mr. Crespo will succeed Mr. Andy Marsh as CEO.

Mr. Marsh will continue to serve as CEO during the transition period and has been appointed Executive Chair of the Board, a position he will retain following March 2, 2026. In conjunction, George McNamee has been named Lead Director. Both Board appointments are effective October 10, 2025. Together, these leadership changes underscore Plug’s ongoing commitment to continuity, disciplined execution, and long-term shareholder value creation.

“I’m honored to be entrusted with leading Plug at such a pivotal moment for both the company and the hydrogen economy,” said Jose Luis Crespo. “Andy’s vision and persistence over nearly two decades have positioned Plug as the leader in global hydrogen solutions. My focus will be on execution, profitability, and customer success, ensuring that Plug continues to convert its technology leadership into sustainable growth.”

Jose Luis Crespo joined Plug in 2014, most recently serving as Chief Revenue Officer. Over more than a decade with the company, Mr. Crespo has played a pivotal role in Plug’s growth as the primary architect of a sales funnel exceeding $8 billion in transformational opportunities. He leads Plug’s revenue strategy and oversees global sales and commercial operations across all products and applications, driving both top- and bottom-line performance through disciplined cost management and a focus on profitability.

Mr. Crespo has been instrumental in strengthening relationships with key customers such as Amazon, Walmart, and Home Depot, while driving hydrogen adoption programs that are reshaping industries worldwide. Working side-by-side with Plug’s leadership team, Mr. Crespo has been a key contributor defining the company’s strategy and execution, making his appointment one that ensures continuity during a critical phase focused on operational excellence and sustained financial discipline.