Air Products appoints Matthew Lepore as general counsel

ALLENTOWN, Pa. - Industrial gases company Air Products (NYSE:APD), a $65.4 billion market cap corporation with a solid financial health score according to InvestingPro, announced Monday the appointment of Matthew Lepore as Executive Vice President, General Counsel and Secretary and Chief Compliance Officer, effective August 18, 2025.

Lepore, who brings 30 years of international legal, commercial and compliance expertise to the role, will report directly to Chief Executive Officer Eduardo Menezes and be based at the company’s global headquarters in Allentown, Pennsylvania.

Lepore most recently served as Group General Counsel, President for Legal, Compliance and Insurance, Chief Compliance Officer, Chief Human Rights Officer and Corporate Secretary at BASF SE in Germany since 2021. Prior to that, he held senior legal positions at BASF from 2014 to 2021 and at Pfizer, Inc. from 2008 to 2014. His earlier career included working as a partner at law firm DLA Piper and as a trial attorney for the U.S. Department of Justice.

"Matt is a seasoned executive and respected leader with a track record of driving efficiency, developing teams and upholding excellence across legal, transactional and governance disciplines," said Menezes in a press release statement.

Lepore received his J.D. from Mercer University and his B.S. from James Madison University.

Air Products, which had fiscal 2024 sales of $12.1 billion, supplies industrial gases and related equipment to customers in various industries including refining, chemicals, metals, electronics, manufacturing, medical and food sectors. The company has maintained dividend payments for 55 consecutive years, currently offering a 2.4% yield. InvestingPro analysis reveals 6 additional key insights about Air Products’ performance and valuation, available to subscribers through comprehensive Pro Research Reports covering 1,400+ top US stocks.

In other recent news, Air Products & Chemicals Inc. reported fiscal 2024 sales totaling $12.1 billion, with operations spanning approximately 50 countries. The company has also declared a quarterly dividend of $1.79 per share, payable in November 2025. Meanwhile, Moody’s Ratings revised Air Products’ outlook to negative from stable, citing concerns over its ability to maintain credit metrics, given its negative free cash flow in 2025. Additionally, Morgan Stanley resumed coverage on Air Products, assigning an Equalweight rating and a price target of $290.00, while emphasizing the importance of improving return on invested capital for future growth.

TD Cowen adjusted its price target for Air Products to $315 from $325 but maintained a Buy rating, reflecting confidence in the company’s strategic shift under new leadership. The company has updated its financial outlook, aiming for a free cash flow breakeven by fiscal year 2027 and an increase in capital expenditures to $2.5 billion by fiscal year 2030. Furthermore, Air Products plans to reduce its workforce by approximately 11% by fiscal years 2027 and 2028 as part of its broader strategy to improve financial health. These developments indicate Air Products & Chemicals’ ongoing efforts to navigate its strategic realignment and financial targets.

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