FuelCell Energy names new CFO as part of planned leadership transition

FuelCell Energy, Inc. (Nasdaq: FCEL) announced that Matthew Latino will become Executive Vice President, Chief Financial Officer and Treasurer effective October 7, 2026, succeeding Michael Bishop in a planned leadership transition.

Bishop, who served as CFO for 15 years as part of an overall tenure of more than two decades with the Danbury, Conn.-based company, will remain with FuelCell Energy as a senior advisor through the company's 2027 Annual Meeting of Stockholders.

Latino joins FuelCell Energy from Xylem Inc. (NYSE: XYL), where he served as Senior Vice President, Finance and Segment Chief Financial Officer of its approximately $2 billion Measurement & Control Solutions business. He also previously led Xylem's investor relations function. Latino began his career at Deloitte & Touche LLP.

"Mike has been a steward of this Company through every stage of its journey," said Jason Few, President and Chief Executive Officer, citing Bishop's work in capital formation, project finance and balance sheet management.

"I am honored to join FuelCell Energy at an important point in the Company's evolution," Latino said, adding that he looks forward to maintaining financial discipline and supporting the execution required to scale the business.

In connection with the announcement, FuelCell Energy reaffirmed its previously stated target of achieving positive Adjusted EBITDA in the fourth quarter of fiscal 2027. The company noted that target is subject to conditions including a planned increase in annualized production rate, conversion of awarded capacity backlog into committed backlog, customer delivery schedules, and continued execution of cost reduction initiatives.

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