On Wednesday, FuelCell Energy announced the departure of the CEO of the company.
The company filed a Form 8-K with the Securities and Exchange Commission on Wednesday tipping off investors about the exit.
| Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On and effective as of June 5, 2019, FuelCell Energy, Inc. (the “Company”) terminated the employment of its President and Chief Executive Officer, Arthur A. Bottone, without cause. Additionally, on June 5, 2019, Mr. Bottone resigned as a director of the Company and its subsidiaries, effective immediately, and the Company agreed to waive Mr. Bottone’s obligation not to compete with the Company pursuant to his employment agreement dated February 8, 2011 and amended on January 1, 2012.
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