Air Products Asserts Smooth CEO Transition Plan

(RTTNews) - Air Products and Chemicals, Inc. (APD) Tuesday revealed that it has a clear succession plan for a smooth transition of its CEO Seifollah Ghasemi, and will add two directors to its board at the 2025 Annual meeting. The Allentown-based industrial Hydrogen and other gases manufacturer plans to announce a new President and timeline for CEO succession before March 31, 2025.

The statement from the Company alleged that Mantle Ridge LP, is proposing to replace Ghasemi with Dennis Reilley as CEO. Air Products said there are attempts to manipulate its financial results and inaccurately portray its appropriate and industry-standard financial reporting. The Board urged shareholders to vote for their nominees only.

In a separate release Mantle Ridge LP introduced four independent shareholder nominees, Andrew Evans, Paul Hilal, Tracy McKibben and Dennis Reilly and proposed Eduardo Menezes as CEO candidate.