Mantle Ridge's Proxy Campaign - Mantle Ridge LP, which owns approximately $1.3 billion of Air Products' common shares, has released video interviews with its four director candidates and proposed CEO candidate Eduardo Menezes [2] - The videos present the case for change at Air Products and include commentary from Ricardo Malfitano, Former Executive Vice President of Praxair, regarding Mr Menezes and Mr Reilley [3] - Mantle Ridge urges shareholders to vote the BLUE proxy card "FOR" its four director nominees - Andrew Evans, Paul Hilal, Tracy McKibben, and Dennis Reilley - and "WITHHOLD" on the company nominees Charles Cogut, Lisa A Davis, Seifollah "Seifi" Ghasemi and Edward L Monser [4] Mantle Ridge's Background - Mantle Ridge LP is an engaged, long-term owner-steward that works closely with company boards to create durable long-term value for all stakeholders [5] - The firm has raised separate, single-investment, five-year special purpose vehicles to support its previous engagements with companies including CSX Corporation, Aramark, and Dollar Tree [5] Proxy Solicitation Details - Mantle Ridge LP and other participants have filed a definitive proxy statement and accompanying BLUE universal proxy card with the SEC for the election of its slate of director nominees at Air Products' 2025 Annual Meeting [9] - The participants in the proxy solicitation are Mantle Ridge LP, Eagle Fund A1 Ltd, Eagle Advisor LLC, Paul Hilal, Andrew Evans, Tracy McKibben and Dennis Reilley [10]

Details Some of the Company's Omissions, Obfuscations, and Misleading Statements Concerning Air Products' Performance, Strategy, and Key ProjectsShareholder-Led Board Refreshment is the Necessary First Step Toward Recovering from Damage Done Over Mr. Seifi Ghasemi's Last Five Years as Chairman and CEOAir Products is Not the First Company Led by Mr. Ghasemi to Have Integrity Issues Electing Mantle's Ridge's Four Highly Qualified Director Nominees – Andrew Evans, Paul Hilal, Tracy McKibben, and Dennis Reilley ...

Air Products and Chemicals, Inc. (APD) benefits from its project investments, productivity actions and new business deals amid the softness in China and Europe.The company’s shares have gained 4.8% over a year compared with the Zacks Chemicals Diversified industry’s 11.2% decline. Image Source: Zacks Investment ResearchLet’s find out why APD stock is worth retaining at the moment.High-return Projects & Productivity Actions Aid Air ProductsAir Products is well-placed to gain from its investments in high-retu ...

Expresses Disappointment with the Board's Failure to Manage an Effective CEO Succession ProcessAnnounces Intention to Support Change at the 2025 Annual MeetingNEW YORK, Jan. 3, 2025 /PRNewswire/ -- The D. E. Shaw group ("D. E. Shaw"), a global investment and technology development firm with more than $65 billion in investment capital and a history of working with companies to help build long-term value, today sent an open letter to the Board of Directors of Air Products and Chemicals, Inc. (NYSE: APD) (the ...

It's been a great year for the broader indexes, but recent market volatility may have some investors wondering if now is a good time to sell stocks.While it's a mistake to let emotions dictate investment decisions, it's always a good idea to ensure that the companies or exchange-traded funds (ETFs) you invest in have what it takes to navigate challenges or even endure a prolonged downturn. That way, you can rest easy knowing your investments are worth holding through periods of volatility.Sherwin-Williams ( ...

The Company's Board and Management, Under Chairman and CEO Seifi Ghasemi's Leadership, Have Delivered Over $44 Billion in Shareholder Value Creation1 Continues to Successfully Execute Two-Pillar Growth Strategy to Grow Core Industrial Gas Business While Capitalizing on First-Mover Advantage in Clean Hydrogen Market Air Products' Board is Refreshed, Independent and Fit-For-Purpose – Mantle Ridge's Proposed Nominees Would Remove Significant and Relevant Experience and Expertise Mantle Ridge's Proposed Execu ...

Details Years of Operational Underperformance, Capital Allocation Missteps, Poor Project Execution, and Succession Planning FailuresExplains How Air Products' Decade of Board-Led "Refreshment" Only Deepened Entrenchment and Further Eroded Governance Safeguards; Current Search for New Subordinate to Seifi Ghasemi is Perpetuation of Status QuoExplains How Air Products Can Achieve Long-Term Potential Through Shareholder-Led Board Reconstitution and Bona Fide CEO Succession PlanOffers Compelling Leadership "Dre ...

Urges Shareholders to Vote "FOR" ONLY Air Products' Nominees on the WHITE Proxy CardLEHIGH VALLEY, Pa., Dec. 13, 2024 /PRNewswire/ -- Air Products (NYSE:APD) Board of Directors today issued a letter to shareholders containing important information for shareholders to consider in connection with its upcoming 2025 Annual Meeting of Shareholders (the "Annual Meeting"), which will be held at 8:30 a.m. U.S. Eastern Time on January 23, 2025. All Air Products shareholders of record as of the close of business on N ...

Core Viewpoint - Mantle Ridge LP, a significant shareholder of Air Products and Chemicals Inc., has withdrawn its push for a board overhaul, leading to a 2.3% drop in the company's stock price in pre-open trading [1][2]. Group 1: Board Restructuring - Mantle Ridge is advocating for a restructuring of the board to enhance executive success and board performance, proposing a mix of ongoing incumbent directors and new independent members [1]. - The proposal includes nominating four new independent candidates, resulting in six out of nine directors being new and independent [2]. - The board slate aims to replace the four most problematic directors and initiate a process to replace the current CEO [3]. Group 2: Shareholder Engagement - Mantle Ridge has taken the initiative to propose a board solution due to the board's lack of engagement in a collaborative reconstruction process, reflecting shareholder preferences for change [4]. - The firm expresses gratitude for the support from fellow shareholders and optimism for the company's future [4]. Group 3: Proxy Solicitation - Mantle Ridge and its affiliates plan to file a preliminary proxy statement with the SEC to solicit proxies for the election of their director nominees at the 2025 annual stockholders meeting [7]. - The Mantle Ridge Parties collectively own approximately 4,107,521 shares, representing about 1.8% of the outstanding shares of Air Products [9].

Air Products and Chemicals, Inc.’s (APD) shares have shot up 21.5% over the past three months. The company has also outperformed the Zacks Chemicals Diversified industry’s rise of 4.2% over the same time frame. APD has also topped the S&P 500’s roughly 6.2% rise over the same period.Let’s take a look into the factors that are driving APD stock. Image Source: Zacks Investment ResearchAPD Gains on High-return Projects & Productivity ActionsAir Products topped earnings expectations in the fiscal fourth quarter ...