FuelCell Energy appoints Matthew Latino as CFO, Michael Bishop becomes senior advisor
FuelCell Energy announced that Matthew Latino will take over as chief financial officer on 7 Oct 2026, succeeding Michael Bishop who has been CFO for 15 years. Bishop will remain with the company as a senior advisor through the 2027 annual shareholders meeting. Latino joins from Xylem, where he oversaw finance for a roughly $2 billion measurement‑and‑control business. The company also restated its goal of achieving positive adjusted EBITDA in the fourth quarter of fiscal 2027.
Why it matters
The announcement triggered a double‑digit drop in FCEL shares, reflecting investor concern over the leadership change. The reaffirmed EBITDA target signals that the company still expects to meet its profitability milestone if production and cost‑reduction plans succeed, according to the company’s own statement.
Key facts
- 1Matthew Latino will become executive vice president, chief financial officer and treasurer effective 7 Oct 2026. globenewswire.com
- 2Michael Bishop served as CFO for 15 years and will act as senior advisor until the 2027 Annual Meeting of Stockholders. globenewswire.com
- 3Latino previously was senior vice president, finance and segment CFO of Xylem’s Measurement & Control Solutions business, which had revenue of about $2 billion. globenewswire.com
- 4FuelCell Energy reaffirmed its target of positive adjusted EBITDA in Q4 FY2027, conditional on higher production, backlog conversion and cost cuts. globenewswire.com
- 5In Q3 FY2026 the company reported revenue of $33.0 million, a 29% year‑over‑year decline. benzinga.com
- 6Adjusted EBITDA for Q3 FY2026 was a loss of $36.7 million. benzinga.com
Open questions
- Share‑price decline figures differ across reports (15%, 7.5%, 14%, 14.5%).
Summary written by AlphAI from 9 of 9 sources. Not investment advice. Figures are as stated by the linked sources.