Air Products elects new board members at annual meeting

LEHIGH VALLEY, Pa. - Industrial gases giant Air Products (NYSE:APD) announced the preliminary results from its Annual Meeting of Shareholders held today. Shareholders have elected a slate of directors to the company's board, including new members Andrew Evans, Paul Hilal, Bob Patel, Dennis Reilley, and Alfred Stern (AS:PBHP).

The newly elected board members will join existing directors Tonit M. Calaway, Lisa A. Davis, Jessica Trocchi Graziano, and Wayne T. Smith. The company expressed gratitude to its outgoing directors for their service and reiterated its commitment to delivering long-term value to shareholders.

Air Products, a leading supplier of hydrogen and other industrial gases, has been in operation for over 80 years. The company focuses on energy, environmental, and emerging markets, promoting a cleaner future through its products and services. With fiscal 2024 sales of $12.1 billion and operations in around 50 countries, Air Products has a market capitalization of $71.27 billion. According to InvestingPro, the company maintains a solid 2.23% dividend yield and has maintained dividend payments for 55 consecutive years, demonstrating strong financial stability.

The company's CEO, Seifi Ghasemi, will continue in his role until the board addresses the CEO succession planning. Final voting results from the annual meeting will be disclosed in an upcoming Form 8-K filing with the Securities and Exchange Commission.

This press release statement contains forward-looking statements that are subject to risks and uncertainties, which may cause actual results to differ from projections. The factors that could affect performance are detailed in the company's Annual Report and SEC filings. Air Products disclaims any obligation to update forward-looking statements based on new information or future events.

The information presented in this article is based on a press release statement from Air Products. Currently trading near its 52-week high of $337, with analyst price targets ranging from $290 to $385, Air Products shows promising momentum. For deeper insights and additional analysis, including Fair Value estimates and 8 more exclusive ProTips, check out the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Air Products has revealed strong preliminary financial results for the first quarter of fiscal year 2025. The company reported an adjusted earnings per share (EPS) of $2.86, surpassing the company's guidance and analyst consensus for the quarter. In addition, Air Products announced a CEO succession plan, with the appointment of a new President expected by the end of March 2025, and a new CEO to follow within three months.

In other recent developments, Mantle Ridge Capital Management has been successful in securing three seats on the nine-member board of Air Products. This follows a highly contested board dispute, the results of which were announced at the company's annual meeting. The company's Board of Directors has expressed concerns over Mantle Ridge's campaign, describing it as potentially disruptive to the company's progress and long-term strategy.

These recent developments highlight significant changes within the company's leadership and promising financial performance. It is important to note that these figures are preliminary and subject to change upon the release of the full financial results. As always, investors are encouraged to consider these earnings and revenue results as key indicators of the company's financial health.

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