Welcome to our dedicated page for Air Prods & Chems news (Ticker: APD), a resource for investors and traders seeking the latest updates and insights on Air Prods & Chems stock.
Air Products & Chemicals, Inc. (NYSE: APD) is a world‑leading industrial gases company that regularly issues news and updates on its operations, projects and corporate actions. This APD news page aggregates company press releases and third‑party coverage so readers can follow developments affecting the industrial gas manufacturing and clean hydrogen sectors.
According to its public statements, Air Products serves customers in refining, chemicals, metals, electronics, manufacturing, medical and food industries across approximately 50 countries. News about the company often covers its role as the leading global supplier of hydrogen, its large clean hydrogen and low‑emission ammonia projects, and its activities in energy, environmental and emerging markets. Announcements related to projects such as a low‑carbon energy complex in Louisiana or participation in the NEOM Green Hydrogen Project in Saudi Arabia illustrate how the company positions itself in the transition to low‑ and zero‑carbon energy.
Investors and industry observers can expect APD news to include quarterly and annual earnings releases, dividend declarations, investor teleconference details, and commentary from leadership on strategy and performance. Regulatory and governance‑related updates, such as Board changes or executive appointments and departures, are typically disclosed through press releases and SEC filings that are also reflected in news coverage.
Sector‑specific updates highlight Air Products’ applications technologies and equipment for areas like the lithium‑ion battery supply chain and food freezing and chilling under its Freshline brand. By reviewing the APD news feed, readers can monitor how the company communicates its strategic focus on core industrial gases, clean hydrogen projects and customer‑focused applications across multiple industries.
Mantle Ridge LP, owning approximately $1.3 billion in Air Products and Chemicals (NYSE: APD) shares, has issued an open letter to shareholders ahead of the January 23, 2025 Annual Meeting. The firm is proposing four new director nominees - Andrew Evans, Paul Hilal, Tracy McKibben, and Dennis Reilley - while urging shareholders to withhold votes from current board members including CEO Seifi Ghasemi.
All three leading independent proxy advisory firms - ISS, Glass Lewis, and Egan-Jones - have recommended replacing CEO Ghasemi and other board members with Mantle Ridge's nominees. The activist investor suggests that with board refreshment and new CEO leadership, APD could be worth $425 per share and positioned to drive double-digit annual Total Shareholder Return.
Mantle Ridge emphasizes that their nominees bring relevant industry experience and expertise critical to Air Products' future, and would implement best-in-class governance while reassessing the company's compensation plan, strategy, and capital allocation.
Air Products (NYSE:APD) has released preliminary financial results for Q1 FY2025, reporting GAAP earnings per share of $2.77 and adjusted EPS of $2.86. The adjusted EPS performance notably exceeded the company's previous guidance range of $2.75 to $2.85 per share for the quarter.
The company plans to release complete Q1 FY2025 results and host a teleconference on February 6, 2025. Air Products notes that these preliminary figures are based on currently available information and may be subject to changes pending the completion of quarter-end close processes.
Air Products (NYSE: APD) has issued a letter to shareholders regarding its upcoming 2025 Annual Meeting, urging them to vote 'FOR' the company's nominees on the WHITE proxy card. The company strongly disagrees with ISS' opinion and presents two contrasting choices for shareholders:
1. Support Air Products' nominees to maintain stability, growth, and long-term value creation, including a planned CEO transition with a new President to be named by March 31.
2. Support Mantle Ridge's nominees, which the company warns could lead to growth and value destruction.
The company highlights its ongoing clean hydrogen strategy, including the NEOM project in Saudi Arabia and Darrow project in Louisiana. Air Products criticizes Mantle Ridge's nominees for lacking relevant experience and having no alternative plan, warning that their appointment could create significant instability in company leadership and strategic direction.
Mantle Ridge LP, holding approximately $1.3 billion of Air Products and Chemicals (NYSE: APD) shares, has issued an open letter to shareholders and employees addressing questions about its nomination of four director candidates to APD's Board of Directors. The investment firm is proposing Andrew Evans, Paul Hilal, Tracy McKibben, and Dennis Reilley as new board members.
The firm is urging shareholders to vote using the BLUE Proxy Card in favor of their nominees while withholding votes from current company nominees Charles Cogut, Lisa A. Davis, Seifollah Ghasemi, and Edward L. Monser. Mantle Ridge's nominees have committed to working constructively with Air Products' continuing directors if elected.
Air Products' (NYSE:APD) Board has issued a letter to shareholders ahead of its January 23, 2025 Annual Meeting, addressing claims made by activist investor Mantle Ridge. The Board defends against Mantle Ridge's assertions regarding board nominations, succession planning, and business strategy.
The company reveals its CEO succession plan is underway, with five prioritized candidates being assessed and an announcement expected by March 31, 2025. The Board criticizes Mantle Ridge's proposed candidate Eduardo Menezes as lacking necessary public company CEO experience.
Regarding clean hydrogen projects, Air Products highlights its strategic positioning with significant offtake agreements, including a 15-year agreement with TotalEnergies for 70,000 tpy of green hydrogen. The company reports strong financial performance with FY2024 Adjusted EBITDA margin of 41.7% and an 11% compound annual growth rate in Adjusted EPS between FY2014 and FY2024.
Mantle Ridge LP, holding approximately $1.3 billion of Air Products and Chemicals (NYSE: APD) shares, has issued a letter to shareholders advocating for board changes at the company's 2025 Annual Meeting. The investment firm is proposing four new director nominees - Andrew Evans, Paul Hilal, Tracy McKibben, and Dennis Reilley - while urging shareholders to withhold votes from current board members Charles Cogut, Lisa A. Davis, Seifollah Ghasemi, and Edward L. Monser.
The letter criticizes the incumbent directors for the company's underperformance over the past five years, citing issues with operational performance, capital allocation, project execution, management succession planning, compensation alignment, and board governance. Mantle Ridge is encouraging shareholders to vote using the BLUE proxy card in favor of their nominees to enhance the company's performance and create long-term shareholder value.
Air Products' (NYSE:APD) Board of Directors has issued a response to Mantle Ridge's shareholder letter, strongly opposing their proposed leadership changes. The Board criticizes Mantle Ridge's nominees, particularly Dennis Reilley for Chairman and Eduardo Menezes for CEO, citing concerns about their qualifications and experience.
The Board highlights that Reilley hasn't held a management position in 18 years and is alleged to have leaked confidential information from three public company boards. Menezes has never been a public company CEO and only managed one region at Linde. The Board also questions the credentials of other Mantle Ridge nominees, Tracy McKibben and Andrew Evans, comparing them unfavorably to Air Products' new independent director candidates.
The Board emphasizes that under current leadership, Air Products has created $44 billion of shareholder value and achieved an 11% Adjusted EPS CAGR since 2014. They have committed to announcing a new President and CEO succession timeline by March 31, 2025.
Mantle Ridge LP, owning approximately $1.3 billion in Air Products and Chemicals (NYSE: APD) shares, has issued a letter to shareholders proposing significant changes to improve the company's performance in the industrial gases industry. The firm is advocating for the election of four new independent director nominees: Andrew Evans, Paul Hilal, Tracy McKibben, and Dennis Reilley.
The proposal aims to implement the Linde/Praxair operating model, focusing on establishing a culture of excellence, cost management, disciplined capital allocation, and improved project execution. Mantle Ridge suggests forming a leadership team featuring Dennis Reilley and Eduardo Menezes, highlighting their industry expertise and management capabilities.
Shareholders are urged to vote using the BLUE proxy card in favor of Mantle Ridge's nominees while withholding votes from current company nominees Charles Cogut, Lisa A. Davis, Seifollah Ghasemi, and Edward L. Monser.
Air Products' (NYSE:APD) Board of Directors has addressed recent developments regarding CEO succession and board composition. The company emphasized it is executing a planned CEO succession strategy, with a commitment to announce a new President and CEO succession timeline by March 31, 2025. This plan was in place before Mantle Ridge and D.E. Shaw's involvement.
The Board defended its position against Mantle Ridge's criticism, particularly regarding their board nominees and interpretation of financial results. The company highlighted its strong financial performance, including industry-leading margins and $44 billion in shareholder value creation, with an 11% Adjusted EPS CAGR since 2014.
The Board urged shareholders to vote 'FOR' Air Products' nominees and disregard any proxy cards from Mantle Ridge.
Mantle Ridge LP, owning approximately $1.3 billion of Air Products and Chemicals (NYSE: APD) shares, has released video interviews introducing their four director nominees for APD's 2025 Annual Meeting of Shareholders. The nominees are Andrew Evans, Paul Hilal, Tracy McKibben, and Dennis Reilley, along with proposed CEO candidate Eduardo Menezes.
The videos feature commentary from Ricardo Malfitano, Former Executive Vice President of Praxair, discussing Menezes and Reilley, and outline the case for change at Air Products. Mantle Ridge is urging shareholders to vote the BLUE Proxy Card 'FOR' their nominees and 'WITHHOLD' on company nominees Charles Cogut, Lisa A. Davis, Seifollah Ghasemi, and Edward L. Monser.