Linde Engineering managing director takes helm at ITM Power

UK energy storage and clean fuel company ITM Power Plc (LON:ITM) announced on Friday that as of December 1, 2022, Dennis Schulz will begin his mandate as the new chief executive officer of the electrolyser maker.

Since 2020, Schulz has been the managing director of Linde Engineering, a division of Linde Plc (NYSE:LIN), which, in turn, is ITM Power’s largest investor with a stake of 16.3%, according to information on the company’s website.

Schulz takes the new position with a significant experience in the market for green hydrogen and decarbonisation. Moreover, he is familiar with ITM Power’s business as he has been closely involved in the two companies’ strategic relationship.

ITM Power chairman Roger Bone commented that the company has carried out a thorough search process with several high calibre candidates for the position of CEO. The company announced it was looking for a new head in late September, when current CEO Graham Cooley unveiled he had decided to step aside after 13 and a half years at the helm.

“I recognise that the skills now required to take the company forward are those of a world-class manufacturing professional who has expanded a manufacturing organisation internationally. I very much look forward to finding that individual, introducing them to ITM Power, and working closely with them as we go forward, while remaining a significant and supportive shareholder,” Cooley stated at the time. He will remain with the company in a senior strategic role following Schulz’s appointment.

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