leadership
confidence high
sentiment neutral
materiality 0.65
FuelCell Energy CFO Michael Bishop to step down; Matthew Latino appointed CFO effective Oct 7
FUELCELL ENERGY INC
- Michael S. Bishop ceased as EVP/CFO/Treasurer on Oct 6, 2026; will serve as Senior Advisor to the CEO from Oct 7, 2026 through April 6, 2027.
- Bishop gets annualized base salary of $461,591 during transition, $461,591 severance over 12 months, and accelerated vesting of 68,518 unvested time-vesting RSUs.
- Matthew Latino named EVP/CFO/Treasurer effective Oct 7, 2026; package includes $460,000 salary, 70% bonus target, $1,000,000 FY2027 LTIP target, $120,000 sign-on, $400,000 RSU grant.
- Latino was previously SVP Finance & Segment CFO at Xylem Inc. (NYSE: XYL) and Audit Senior at Deloitte & Touche LLP; no related-party arrangements disclosed.
- Bishop's separation benefits include pro rata PSU eligibility and COBRA premiums up to 12 months; other unearned PSUs and unvested equity awards are forfeited.