Plug Power announced today that Chris Hutter has been appointed CFO, effective November 6th 2014. Mr. Hutter will take over responsibilities for Mr. Dave Waldek who has served at Plug Power as interim CFO since April of 2013.
Mr. Hutter has extensive experience growing businesses profitably, and comes to Plug Power with the skills needed to guide and propel Plug Power’s sales and financial momentum. He brings 20 years of experience managing financial growth strategies of publicly traded companies to Plug Power. Most recently, he was Executive Vice President and CFO of PowerSecure International, a $270m energy products and services company. Under his financial leadership, PowerSecure tripled in size through sales growth and acquisitions. Mr. Hutter’s experience as an executive in the energy sector will quickly add value to Plug Power with industry-specific analysis and investor knowledge.
Prior to PowerSecure International, Mr. Hutter served as National Vice President of Finance, Treasurer, Investor Relations and Assistant Secretary at ADVO, a $1.5bn advertising and marketing firm. Mr. Hutter held various financial positions over his 14 years with ADVO, a company which grew an attractive, one-of-a-kind business platform that was acquired for a healthy premium by Valassis Communications in 2007.
Mr. Hutter’s demonstrated skills, coupled with the already successful management team at Plug Power, positions the company to accelerate the growth of the business beyond 2014. Over his tenure, Mr. Hutter has developed a proven strategy revolving around disciplined planning, forecasting and business review process, resulting in strong balance sheets, excellent bank relations and enhanced shareholder relationships.
Mr. Hutter is a critical addition and will be a significant influence on Plug Power’s ability to profitably scale the business today and continue substantial growth in the coming years.
“Chris has displayed the proven qualifications to positively expedite Plug Power’s growth,” said Andy Marsh, CEO of Plug Power. “The addition of Chris to Plug Power’s developing management team adds an additional level of strength as we invest in prepping the business to handle larger levels of success. On behalf of the whole Plug Power team, I’d like to welcome Chris to Plug Power.”
“The energy industry is very dynamic and I’m excited by the unique growth opportunities that lie ahead for Plug Power. Plug Power has clearly established itself as the leader in the hydrogen fuel cell space, proving itself as the frontrunner in the material handling power market,” Mr. Hutter said. “I look forward to being a significant contributor to helping Plug Power become a global powerhouse in the fuel cell industry.”
Mr. Hutter graduated magna cum laude graduate from Case Western Reserve University. Additionally, he holds an MBA from Duke University’s Fuqua School of Business.