Air Products Announces Two New Independent Director Candidates as Part of Ongoing Board Refreshment
Air Products (NYSE:APD) announced plans to nominate two new independent directors, Bob Patel and Alfred Stern, for election at the 2025 Annual Meeting of Shareholders. Patel, former CEO of W.R. Grace and LyondellBasell, brings 35 years of global chemicals industry experience. Stern, current CEO of OMV Group, contributes 29 years of experience in energy and chemicals sectors. These nominations are part of the company's board refreshment initiative, as David H.Y. Ho and Matthew H. Paull will not seek re-election. Following these changes, the board will maintain nine Directors, with six appointed in the last five years.
Air Products (NYSE:APD) ha annunciato piani per nominare due nuovi direttori indipendenti, Bob Patel e Alfred Stern, per l'elezione alla Riunione Annuale degli Azionisti del 2025. Patel, ex CEO di W.R. Grace e LyondellBasell, porta con sé 35 anni di esperienza nell'industria chimica globale. Stern, attuale CEO del Gruppo OMV, contribuisce con 29 anni di esperienza nei settori dell'energia e della chimica. Queste nomine fanno parte dell'iniziativa di rinnovamento del consiglio dell'azienda, poiché David H.Y. Ho e Matthew H. Paull non si ricandidano. Dopo queste modifiche, il consiglio manterrà nove Direttori, sei dei quali nominati negli ultimi cinque anni.
Air Products (NYSE:APD) anunció planes para nominar a dos nuevos directores independientes, Bob Patel y Alfred Stern, para su elección en la Reunión Anual de Accionistas de 2025. Patel, ex CEO de W.R. Grace y LyondellBasell, aporta 35 años de experiencia en la industria química global. Stern, actual CEO del Grupo OMV, suma 29 años de experiencia en los sectores de energía y química. Estas nominaciones son parte de la iniciativa de renovación del consejo de la compañía, ya que David H.Y. Ho y Matthew H. Paull no buscarán la reelección. Después de estos cambios, el consejo mantendrá nueve Directores, de los cuales seis fueron nombrados en los últimos cinco años.
Air Products (NYSE:APD)는 2025년 주주 총회에서 선출할 두 명의 신규 독립 이사를 Bob Patel과 Alfred Stern으로 임명할 계획을 발표했습니다. Patel은 W.R. Grace와 LyondellBasell의 전 CEO로서 글로벌 화학 산업에서 35년의 경력을 쌓아왔습니다. Stern은 OMV Group의 현 CEO로서 에너지 및 화학 분야에서 29년의 경험을 기여합니다. 이러한 후보자는 회사의 이사회 갱신 이니셔티브의 일환으로, David H.Y. Ho와 Matthew H. Paull은 재선에 도전하지 않을 것입니다. 이러한 변화 이후, 이사회는 9명의 이사를 유지하며, 그중 6명이 최근 5년 내에 임명되었습니다.
Air Products (NYSE:APD) a annoncé des plans pour nommer deux nouveaux administrateurs indépendants, Bob Patel et Alfred Stern, pour les élections lors de l'Assemblée annuelle des actionnaires de 2025. Patel, ancien PDG de W.R. Grace et LyondellBasell, apporte 35 ans d'expérience dans l'industrie chimique mondiale. Stern, actuel PDG du Groupe OMV, contribue avec 29 ans d'expérience dans les secteurs de l'énergie et des produits chimiques. Ces nominations font partie de l'initiative de renouvellement du conseil d'administration de l'entreprise, David H.Y. Ho et Matthew H. Paull ne se représentant pas. Après ces changements, le conseil comptera neuf administrateurs, dont six ont été nommés au cours des cinq dernières années.
Air Products (NYSE:APD) hat Pläne angekündigt, zwei neue unabhängige Direktoren, Bob Patel und Alfred Stern, zur Wahl bei der Hauptversammlung der Aktionäre im Jahr 2025 zu nominieren. Patel, ehemaliger CEO von W.R. Grace und LyondellBasell, bringt 35 Jahre Erfahrung in der globalen Chemieindustrie mit. Stern, aktueller CEO der OMV Group, bringt 29 Jahre Erfahrung in den Bereichen Energie und Chemie ein. Diese Nominierungen sind Teil der Initiativen zur Erneuerung des Vorstands des Unternehmens, da David H.Y. Ho und Matthew H. Paull sich nicht zur Wiederwahl stellen. Nach diesen Veränderungen wird der Vorstand aus neun Direktoren bestehen, von denen sechs in den letzten fünf Jahren ernannt wurden.
- Board refreshment with experienced industry leaders strengthens corporate governance
- New nominees bring extensive experience in global chemicals and energy sectors
- Maintained board size with improved recent refresh rate (6 of 9 directors appointed in last 5 years)
- None.
- Bob Patel and Alfred Stern, seasoned executives with experience leading major publicly listed industrial companies, to stand for election at Air Products' 2025 Annual Meeting of Shareholders
- Patel, former Chief Executive Officer (CEO) of W.R. Grace and LyondellBasell and former President of Standard Industries, brings 35 years of global chemicals and materials industry experience in senior manufacturing, commercial, and management roles, and on public company boards, with extensive experience leading large-scale, global company transformations
- Stern, CEO and Executive Board Chairman of the OMV Group, Supervisory Board Chairman of OMV Petrom, and former CEO of Borealis, has 29 years of proven experience in leading and transforming global energy and chemicals companies and leading international multi-billion-dollar projects
Air Products intends to nominate Bhavesh V. "Bob" Patel and Alfred Stern for election to the Board at the Company's 2025 Annual Meeting of Shareholders. These candidates bring strong experience leading and overseeing public companies, as well as expertise operating complex global businesses in the chemicals and energy sectors. They each have stellar records growing major industrial companies internationally and capitalizing on clean energy and sustainability opportunities.
David H.Y. Ho and Matthew H. Paull will not seek re-election to the Board at the 2025 Annual Meeting. Following these changes, the Board will continue to be comprised of nine Directors, six of whom will have been appointed in the last five years. Collectively, Air Products' Directors contribute highly relevant and applicable experience to effectively oversee the Company. They bring executive and public company board expertise, deep knowledge of the industrials sector, experience running complex cross-border organizations, and a long track record of managing large-scale growth projects and seizing on opportunities related to the energy transition.
Edward L. Monser, Lead Director, said: "Bob and Alfred are seasoned leaders of the highest caliber, with valuable insight and perspectives that will bolster Air Products' business and strategy. With their addition, the Board will continue to be well-positioned to oversee the Company through its next phase of growth and execute on a successful leadership succession. I look forward to working with the entire Board to deliver on our goal of being the safest, most diverse and most profitable industrial gas company in the world."
"We are delighted to nominate Bob and Alfred to the Air Products Board," said Air Products' Chairman, President and Chief Executive Officer Seifi Ghasemi. "We welcome their extensive business experience and proven leadership as Air Products delivers on its growth strategy of optimizing and growing its core industrial gases business while advancing the energy transition through clean hydrogen. On behalf of the Board, I would like to thank David and Matthew for their vision and counsel that helped place Air Products on a firm growth trajectory. We are grateful for their service and contributions to the Company."
Bob Patel is the former Chief Executive Officer of W.R. Grace and LyondellBasell, two major global chemical companies. He has 35 years of industry experience in manufacturing, commercial, and management roles, as well as in the global commodity markets. With experience running an NYSE-listed company and leading large-scale global transformations, Mr. Patel brings executive leadership skills, public company board experience, capital markets and financial expertise, extensive
Alfred Stern has been Chairman of the Executive Board and CEO of the OMV Group since 2021. OMV, listed on the Vienna Stock Exchange, is the largest industrial company in
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 and generating a cleaner future. The Company supplies essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, medical and food. As the leading global supplier of hydrogen, Air Products 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 industrial and heavy-duty transportation sectors. Through its sale of equipment businesses, the Company also provides turbomachinery, membrane systems and cryogenic containers globally.
The Company had fiscal 2024 sales of
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.
Important Additional Information and Where to Find It
Air Products and Chemicals, Inc. (the "Company") plans to file proxy materials with the
Certain Information Regarding Participants
The Company, its directors and certain of its executive officers and other employees may be deemed to be "participants" (as defined in Section 14(a) of the Securities Exchange Act of 1934, as amended) in the solicitation of proxies from shareholders in connection with the 2025 Annual Meeting. Additional information regarding the identity of these potential participants and their direct or indirect interests, by security holdings or otherwise, will be set forth in the Proxy Statement and other materials to be filed with the SEC in connection with the 2025 Annual Meeting. Information relating to the foregoing can also be found in the Company's definitive proxy statement for its 2024 annual meeting of shareholders, filed with the SEC on December 8, 2023. Information regarding the ownership of the Company directors and executive officers in the shares of the Company common stock is included in their SEC filings on Forms 3, 4, and 5, which can be found at the SEC's website at www.sec.gov. More detailed and updated information regarding the identity of potential participants, and their direct or indirect interests (by security holdings or otherwise), will be set forth in the proxy statement and other materials to be filed with the SEC. These documents can be obtained free of charge from the sources indicated above.
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SOURCE Air Products
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