Air Products and Chemicals(APD) Prnewswire·2025-01-09 12:00Core Viewpoint - Mantle Ridge LP is advocating for the election of its four independent director nominees to the Board of Directors of Air Products and Chemicals, Inc. to enhance the company's performance and create long-term value for shareholders [1][3]. Group 1: Director Nominees - Mantle Ridge has nominated four highly qualified independent directors: Andrew Evans, Paul Hilal, Tracy McKibben, and Dennis Reilley, emphasizing their critical sector expertise and leadership experience [1][3]. - The company urges shareholders to vote the BLUE Proxy Card "FOR" these nominees and "WITHHOLD" votes for the incumbent directors [1][3]. Group 2: Incumbent Directors' Performance - The letter highlights the leadership failures of select incumbent directors, including Charles Cogut, Lisa A. Davis, Seifollah "Seifi" Ghasemi, and Edward L. Monser, attributing them responsibility for Air Products' chronic underperformance over the past five years [2][3]. - Specific issues cited include operational underperformance, flawed capital allocation and strategy, poor project execution, and inadequate management development and succession planning [1][2]. Group 3: Mantle Ridge's Background - Founded in 2016, Mantle Ridge LP is characterized as a long-term owner-steward focused on creating durable value for stakeholders, distinguishing itself from hedge funds or short-term investment vehicles [4]. - The firm has previously engaged with companies like CSX Corporation, Aramark, and Dollar Tree, indicating a history of active involvement in corporate governance [4].