Ballard Announces CFO Resignation

VANCOUVER, Dec. 15 /PRNewswire-FirstCall/ – Ballard Power Systems (TSX: BLD; NASDAQ: BLDP) announced today that its Chief Financial Officer, David S. Smith, has resigned from Ballard, effective January 30, 2009, to join Finning International Inc. An external search has been initiated for Ballard’s new CFO. Over the interim period, Jay Murray, Ballard’s Corporate Controller, has been appointed acting CFO.

John Sheridan, Ballard’s President and CEO, congratulated Dave on this career step and recognized that “Dave has made many important contributions to Ballard over the past eight years.”

About Ballard Power Systems

Ballard Power Systems (TSX: BLD; NASDAQ: BLDP) is recognized as a world leader in the design, development, manufacture and sale of clean energy fuel cell products. Ballard’s mission is to accelerate fuel cell product adoption. To learn more about what Ballard is doing with Power to Change the World(R), visit http://www.ballard.com.

This release contains forward-looking statements that are based on the beliefs and assumptions of Ballard’s management and reflect Ballard’s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such assumptions relate to our financial forecasts and expectations regarding our product development efforts, manufacturing capacity, and market demand. These statements involve risks and uncertainties that may cause our actual results to be materially different, including, without limitation, the rate of mass adoption of our products, product development delays, changing environmental regulations, our ability to attract and retain business partners and customers, our access to funding, increased competition, our ability to protect our intellectual property, changes in our customers’ requirements, and our ability to provide the capital required for product development, operations and marketing. Readers should not place undue reliance on Ballard’s forward-looking statements and Ballard assumes no obligation to update or release any revisions to these forward looking statements. For a detailed discussion of the risk factors that could affect Ballard’s future performance, please refer to our most recent Annual Information Form.

Ballard, the Ballard logo and Power to Change the World are registered trademarks of Ballard Power Systems Inc.

[Via http://www.prnewswire.com]

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