Ballard ESG Report 2019


Board of Directors

The Ballard Board

Our board of directors is composed of nine committed and qualified professionals, who were elected in accordance with a majority voting policy. Eight members are considered independent. The Board oversees all matters important to the successful operation of the company including determining our strategic direction, risk management and approving capital allocation.

Size of Board

9 8

Independent directors Separate Chair and CEO All committees independent

Yes Yes

M/F directors

7 M 2 F

Board diversity policy Annual director elections Individual director elections


Yes Yes Yes

The board operates three committees:

Majority voting policy Board interlocks (#)


• Audit Committee

Limit on external board service of independent directors

• Corporate Governance and Compensation Committee

Yes Yes

Annual say on pay

• Commercial Committee

Board, committee and director evaluations annually Board orientation and education program In-camera sessions at every board & committee meeting

Yes Yes

The Audit Committee is responsible for sustainability and reporting issues. More information on the board and corporate governance can be found on our website:, and in the “Corporate Governance” section of our Management Proxy Circular.


Corporate Ownership and Structure

Ballard Power Systems Inc. (British Columbia)

Ballard Services Inc. (British Columbia)

Ballard Power Systems Europe A/S (Denmark)

BDF IP Holdings Ltd. (Canada) 34%

Ballard Power Corporation (Delaware)

Ballard Hong Kong Limited (Hong Kong)

Ballard Fuel Cell Systems Inc. (Delaware)

Ballard Unmanned Systems Inc. (Delaware)

Guandong Synergy Ballard Hydrogen Power Co., Ltd (China) 10%

Weichai Ballard Hy-Energy Technologies Co., Ltd (China) 49%

Guangzhou Ballard Power Systems Co., Ltd (China)

Unless otherwise indicated above, each entity is 100% owned. Ballard Power Systems Inc. holds all of the non-voting, participating shares of BDF IP Holdings LTD. and 34% of the voting, non-participating shares of the BDF IP Holdings Ltd., with each of Mercedes-Benz AG and Ford Motor Company holding 33% of the voting, non-participating shares of BDF IP Holdings Ltd.


1) Hydrogen Scaling Up report 2017 – Hydrogen Council ing-up-Hydrogen-Council.pdf

2) ICCT 2018 Effects of battery manufacturing on electric vehicle life-cycle green- house gas emissions - cycle-GHG_ICCT-Briefing_09022018_vF.pdf

Ballard Environmental, Social and Governance (ESG) Report 2019


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