Ballard Power Systems (BLDP) shareholder Weichai Power sold about 6.9 million Ballard shares, reducing its stake to below 15% and losing its seats on the company's board, Ballard said Thursday evening.
As a result, Weichai Power board nominees Michael Chen and Huajie Wang stepped down from Ballard's board, and Weichai Power will no longer be entitled to appoint nominees, the company said.
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