HydrogenPro ASA (0ACL), the Norwegian electrolyser manufacturer, announced on 13 November 2026 that Chief Financial Officer Martin Thanem Holtet has resigned to pursue opportunities outside the company. Mr Holtet will remain in post until 30 November 2026 and provide transition support through December 2026. Cheng Zeng, currently Director of Financial Planning & Analysis and Investor Relations, has been appointed Interim CFO effective 1 December 2026. The change comes as HydrogenPro states it remains focused on ongoing financing activities and strategic priorities, making financial leadership continuity a point investors will be watching closely.

Key Points

  • HydrogenPro ASA (0ACL) — Norwegian electrolyser manufacturer listed under MFN
  • CFO Martin Thanem Holtet has resigned to pursue external opportunities, effective 30 November 2026
  • Cheng Zeng appointed Interim CFO from 1 December 2026; Mr Holtet available to support transition through December 2026
  • Investors should watch for a permanent CFO appointment and updates on the company's ongoing financing activities

Martin Thanem Holtet Steps Down After Five Years Leading HydrogenPro's Finance Function

Martin Thanem Holtet informed HydrogenPro that he will resign from the CFO position to pursue opportunities outside the business. The announcement states that Mr Holtet joined the company in early 2021, contributing across five years to scaling the organisation, establishing industrial manufacturing capabilities, and delivering major electrolyser projects. He will continue in his current role until 30 November 2026 and has committed to remaining available throughout December 2026 to support an orderly handover of responsibilities, the company confirmed in the disclosure published on 13 November 2026 under the Norwegian Securities Trading Act, §5-12.

Cheng Zeng's FP&A and Investor Relations Background Underpins Interim CFO Appointment

To maintain continuity in financial leadership, HydrogenPro's Board of Directors has appointed Cheng Zeng as Interim Chief Financial Officer, effective 1 December 2026. Mr Zeng currently serves as Director of Financial Planning & Analysis and Investor Relations, roles that the announcement states have given him extensive knowledge of the company's business, financial operations, reporting processes, and capital markets activities. The company said Mr Zeng will work closely with the executive management team and the Board during the transition period. No timeline for a permanent CFO appointment was disclosed in the announcement.

CEO Jarle Dragvik Cites Electrolyser Project Delivery and Organisational Scaling Among Holtet's Legacy

Chief Executive Officer Jarle Dragvik acknowledged Mr Holtet's contribution, stating in the announcement that the outgoing CFO "played a vital role in HydrogenPro's development" and thanking him for his dedication and leadership. Mr Holtet was also quoted in the disclosure, expressing pride in achievements including scaling the organisation and delivering major electrolyser projects. HydrogenPro operates in the industrial green hydrogen sector, manufacturing large-scale alkaline electrolysers, a capital-intensive business where financial stewardship and access to external financing are central operational risks the company acknowledged by noting its focus on ongoing financing activities.