Air Products' Chairman, President and CEO Seifi Ghasemi Announces Formation of Senior Management Board

Rhea-AI Summary

Air Products (NYSE:APD) has announced the formation of a Management Board, effective immediately, to execute the company's two-pillar growth strategy. This strategy aims to optimize and grow Air Products' core industrial gases business while advancing the energy transition through clean hydrogen.

Chairman, President and CEO Seifi Ghasemi will lead the new Management Board, comprising 11 senior executives from various global divisions. The board's formation is designed to streamline and optimize the global organization, maintain Air Products' position as the safest and most profitable industrial gas company in the world, and enhance its ability to execute its full portfolio of projects.

Positive

• Formation of a Management Board to streamline global operations
• Focus on executing two-pillar growth strategy: core industrial gases and clean hydrogen
• Maintaining position as safest and most profitable industrial gas company globally
• Enhanced ability to execute full project portfolio

Negative

• None.

Talented Senior Leadership Focused on Executing Company's Two-Pillar Growth Strategy, Delivering the Company's Next-Level of Success, and Generating a Cleaner Future

LEHIGH VALLEY, Pa., July 22, 2024 /PRNewswire/ -- Air Products (NYSE:APD) today announced the formation of a Management Board, effective immediately, bringing together talented senior leadership across the globe to execute the Company's two-pillar growth strategy. That strategy is to optimize and grow Air Products' core industrial gases business while advancing the energy transition through clean hydrogen.

Chairman, President and CEO Seifi Ghasemi will lead the new Management Board, each of whom will report directly to him:

• Ivo Bols, President, Europe & Africa
• Wolfgang Brand, Senior Vice President, Project Delivery and Technology
• Victoria Brifo, Senior Vice President and Chief Human Resources Officer, Corporate Communications and Corporate Relations
• Brian Galovich, Senior Vice President and Chief Information Officer
• Ahmed Hababou, President, Middle East and India
• Kurt Lefevre, President, Asia
• Francesco Maione, President, Americas
• Sean Major, Executive Vice President, General Counsel and Secretary, Mergers & Acquisitions, and Sustainability
• Wilbur Mok, Senior Vice President, Equipment Businesses
• Wally Nelson, Vice President, Global Helium
• Melissa Schaeffer, Senior Vice President and Chief Financial Officer

Ghasemi said, "Air Products is the safest and most profitable industrial gas company in the world. The formation of the Management Board further streamlines and optimizes our global organization to ensure we maintain that position. It further enhances our ability to execute our full portfolio of projects. I am focused on our Company strategy, project execution and the development of our senior leaders. I remain highly enthusiastic about the future of Air Products and am proud to lead this Company and work alongside our talented and dedicated team."

Executive bios and photos are available at www.airproducts.com/company/leadership.

About Air Products
Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets. The Company has two growth pillars driven by sustainability. Air Products' base business provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, and food. The Company also develops, engineers, builds, owns and operates some of the world's largest clean hydrogen projects supporting the transition to low- and zero-carbon energy in the heavy-duty transportation and industrial sectors. Additionally, Air Products is the world leader in the supply of liquefied natural gas process technology and equipment, and provides turbomachinery, membrane systems and cryogenic containers globally.

The Company had fiscal 2023 sales of $12.6 billion from operations in approximately 50 countries and has a current market capitalization of over $50 billion. Approximately 23,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products' higher purpose to create innovative solutions that benefit the environment, enhance sustainability and reimagine what's possible to address the challenges facing customers, communities, and the world. For more information, visit www.airproducts.com or follow us on LinkedIn, X, Facebook or Instagram.

This release contains "forward-looking statements" within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including the risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2023 and other factors disclosed in our filings with the Securities and Exchange Commission. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs or expectations or any change in events, conditions or circumstances upon which any such forward-looking statements are based.

View original content:https://www.prnewswire.com/news-releases/air-products-chairman-president-and-ceo-seifi-ghasemi-announces-formation-of-senior-management-board-302202573.html

SOURCE Air Products

FAQ

What is Air Products' (APD) new two-pillar growth strategy?

Air Products' two-pillar growth strategy focuses on optimizing and growing its core industrial gases business while advancing the energy transition through clean hydrogen.

Who will lead Air Products' (APD) new Management Board?

Chairman, President and CEO Seifi Ghasemi will lead Air Products' new Management Board.

How many senior executives are part of Air Products' (APD) new Management Board?

Air Products' new Management Board comprises 11 senior executives from various global divisions.

What is the main purpose of Air Products' (APD) new Management Board?

The main purpose of Air Products' new Management Board is to streamline and optimize the global organization, maintain its position as the safest and most profitable industrial gas company, and enhance its ability to execute its full portfolio of projects.