PPG Industries Shareholders Elect Directors, Approve Proposals

PITTSBURGH, PA – PPG (WA:IBSP) Industries Inc. (NYSE:PPG), a global leader in paints, varnishes, and related products with a market capitalization of $23.14 billion, held its Annual Meeting of Shareholders on April 17, 2025, where several key decisions were made regarding the company’s governance and executive compensation. According to InvestingPro data, the company maintains a solid financial health score of "GOOD" and has consistently raised its dividend for 54 consecutive years.

During the meeting, shareholders voted to elect ten nominees to the company’s board of directors. Each nominee will serve until the 2026 Annual Meeting or until their successors are elected and qualified. The directors elected include Kathy L. Fortmann, Melanie L. Healey, Gary R. Heminger, Timothy M. Knavish, Michael W. Lamach, Kathleen A. Ligocki, Michael T. Nally, Guillermo Novo, Christopher N. Roberts III, and Catherine R. Smith. InvestingPro analysis reveals that management has been actively engaged in shareholder-friendly practices, including aggressive share buybacks and maintaining a competitive dividend yield of 2.67%.

The compensation of PPG Industries’ named executive officers was also approved on an advisory basis, with 169,801,948 votes in favor, 12,286,324 against, and 579,228 abstained. This advisory vote, commonly referred to as "say on pay," allows shareholders to express their opinion on the appropriateness of executive compensation.

Furthermore, the appointment of PricewaterhouseCoopers LLP as the company’s independent registered public accounting firm for 2025 was ratified with a significant majority of 193,007,652 votes for, 2,892,958 against, and 214,337 abstained.

A shareholder proposal that sought approval of certain executive officer severance arrangements was not approved, receiving 10,375,593 votes for, 171,592,610 against, and 699,297 abstained.

The shareholder turnout was substantial, with no broker non-votes reported for the ratification of the independent auditors and a notable number of broker non-votes for the other items. As of the record date for the meeting, PPG Industries had 226,974,896 shares of common stock issued and outstanding.

The outcomes of the Annual Meeting reflect shareholder engagement and support for the company’s leadership and strategic direction. The information reported is based on a press release statement from PPG Industries Inc.

In other recent news, PPG Industries reported net sales of $15.8 billion in 2024, reflecting its strong financial performance. The company also declared its 507th consecutive dividend payment, a quarterly dividend of 68 cents per share, underscoring its commitment to delivering consistent shareholder returns. Additionally, PPG Industries successfully issued €900 million in 3.250% Notes due in 2032, with plans to use the proceeds for general corporate purposes such as working capital and potential acquisitions.

In terms of analyst ratings, BofA Securities downgraded PPG Industries from Buy to Neutral, citing concerns over raw material costs and potential economic impacts. Similarly, Seaport Global Securities downgraded the stock to Neutral, highlighting tariff concerns that could affect demand in the Industrial Coatings sector. Despite these challenges, PPG Industries is taking measures to enhance earnings leverage and is eyeing recovery opportunities in regions like Poland.

Furthermore, PPG Industries announced the appointment of Leon J. Topalian, CEO of Nucor Corporation (NYSE:NUE), to its board of directors. Topalian will serve on both the Audit Committee and the Sustainability and Innovation Committee, bringing valuable expertise in manufacturing and operations. These developments illustrate PPG Industries’ ongoing efforts to strengthen its leadership and financial strategies.

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