LEHIGH VALLEY, Pa., Jan. 7, 2025 /PRNewswire/ -- Air Products' (NYSE:APD) Board of Directors today issued the following statement: Air Products is executing on a rigorous CEO succession plan, announced long before Mantle Ridge and D.E. Shaw started advocating for succession, while refreshing its Board with two highly qualified directors at the 2025 Annual Meeting of Shareholders. The Board has clearly articulated a CEO succession plan to ensure a smooth transition between Mr. Ghasemi and his successor and h ...

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 ...

NEW YORK, Dec. 5, 2024 /PRNewswire/ -- Mantle Ridge LP ("Mantle Ridge"), which together with its affiliates beneficially owns more than $1 billion of Air Products and Chemicals Inc. (NYSE: APD) ("Air Products" or the "Company") shares, today issued the following statement:It was reported in the press today that:"Air Products and Chemicals, Inc. experienced a 2.3% drop in its stock price in pre-open trading on Thursday. This decline came as a result of activist hedge fund Mantle Ridge LP withdrawing its earl ...