Mantle Ridge Issues Shareholder Letter: Restoring Integrity is Necessary for Air Products and Chemicals, Inc. to Recover and Return to Prosperity

PR Newswire01-06 20:00

Details Some of the Company's Omissions, Obfuscations, and Misleading Statements Concerning Air Products' Performance, Strategy, and Key Projects Shareholder-Led Board Refreshment is the Necessary ...

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}","selectors":"article","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2501239634","pubTimestamp":1736164800,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Details Some of the Company's Omissions, Obfuscations, and Misleading Statements Concerning Air Products' Performance, Strategy, and Key Projects. Shareholder-Led Board Refreshment is the Necessary First Step Toward Recovering from Damage Done Over Mr. Seifi Ghasemi's Last Five Years as Chairman and CEO. Air Products is Not the First Company Led by Mr. Ghasemi to Have Integrity Issues. Electing Mantle's Ridge's Four Highly Qualified Director Nominees – Andrew Evans, Paul Hilal, Tracy McKibben, and Dennis Reilley – Will Help Reset Air Products' Leadership Culture and Launch a New Chapter of Prosperity. Urges Shareholders to Vote the BLUE Proxy Card \"FOR\" Mantle Ridge's Four Highly Qualified Director Nominees and \"WITHHOLD\" on the Company Nominees Charles Cogut, Lisa A. Davis, Seifollah \"Seifi\" Ghasemi and Edward L. Monser","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"AIRI":"Air Industries Group","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","BK4187":"航天航空与国防","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","BK4550":"红杉资本持仓","LU1670628061.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) INC","LU1894683348.USD":"AMUNDI FUNDS US EQUITY RESEARCH VALUE \"A2\" (USD) INC","GRO":"Brazil Potash Corp.","LU1670627923.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","LU1894683264.USD":"AMUNDI FUNDS US EQUITY RESEARCH VALUE \"A2\" (USD) ACC","BK4101":"工业气体","BK4588":"碎股","APD":"空气化工"},"translate_title":"Mantle Ridge发出股东信：恢复诚信对于空气化工产品公司的恢复和繁荣是必要的","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AIRI":1,"GRO":1,"APD":0.9},"content_text":"Details Some of the Company's Omissions, Obfuscations, and Misleading Statements Concerning Air Products' Performance, Strategy, and Key Projects\nShareholder-Led Board Refreshment is the Necessary First Step Toward Recovering from Damage Done Over Mr. Seifi Ghasemi's Last Five Years as Chairman and CEO\nAir Products is Not the First Company Led by Mr. Ghasemi to Have Integrity Issues\n Electing Mantle's Ridge's Four Highly Qualified Director Nominees – Andrew Evans, Paul Hilal, Tracy McKibben, and Dennis Reilley – Will Help Reset Air Products' Leadership Culture and Launch a New Chapter of Prosperity\nUrges Shareholders to Vote the BLUE Proxy Card \"FOR\" Mantle Ridge's Four Highly Qualified Director Nominees and \"WITHHOLD\" on the Company Nominees Charles Cogut, Lisa A. Davis, Seifollah \"Seifi\" Ghasemi and Edward L. Monser\nView the Letter and Related Materials at www.RefreshingAirProducts.com\nNEW YORK, Jan. 6, 2025 /PRNewswire/ -- Mantle Ridge LP, which, together with its affiliates (collectively, \"Mantle Ridge\"), beneficially owns approximately $1.3 billion of the outstanding common shares of Air Products and Chemicals, Inc. (NYSE: APD) (\"Air Products\" or the \"Company\"), today sent a letter to the Company's shareholders detailing significant omissions, obfuscations, and misleading claims from Air Products' incumbent leadership regarding its own performance, strategy, and key projects. The letter also highlights that a company Mr. Ghasemi previously led also had major integrity issues, as evidenced by findings of large-scale corporate fraud on his watch.\n\n  \n\nMantle Ridge encourages all shareholders to review the attached letter, which is also accessible alongside related materials at www.RefreshingAirProducts.com.\nTo Restore Air Products' Performance and Create the Long-Term Value that Shareholders Deserve, Mantle Ridge Urges Shareholders to Vote the BLUE Proxy Card \"FOR\" Mantle Ridge's Four Highly Qualified Director Nominees and \"WITHHOLD\" on the Company Nominees Charles Cogut, Lisa A. Davis, Seifollah \"Seifi\" Ghasemi and Edward L. Monser\nAdditional information regarding Mantle Ridge's highly qualified nominees and other materials related to its proxy campaign may be found at www.RefreshingAirProducts.com.\nAbout Mantle Ridge\nFounded in 2016, Mantle Ridge LP is an engaged, long-term owner-steward that works closely and constructively with company boards to create durable long-term value for all stakeholders. None of Mantle Ridge's affiliated entities is a hedge fund or other investment vehicle with a structurally short-term incentive.  Mantle Ridge engages with the expectation of maintaining an ownership position over the very long-term. Mantle Ridge has raised separate, single-investment, five-year special purpose vehicles to support its previous engagements with companies including CSX Corporation, $Aramark(ARMK-W)$, and Dollar Tree. For more information, visit  https://www.mantleridge.com/.\nCAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS\nThe information herein contains \"forward-looking statements.\" Specific forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and include, without limitation, words such as \"may,\" \"will,\" \"expects,\" \"believes,\" \"anticipates,\" \"plans,\" \"estimates,\" \"projects,\" \"potential,\" \"targets,\" \"forecasts,\" \"seeks,\" \"could,\" \"should\" or the negative of such terms or other variations on such terms or comparable terminology. Similarly, statements that describe our objectives, plans or goals are forward-looking. Forward-looking statements are subject to various risks and uncertainties and assumptions. There can be no assurance that any idea or assumption herein is, or will be proven, correct. If one or more of the risks or uncertainties materialize, or if any of the underlying assumptions of Mantle Ridge LP and its affiliates (collectively, \"Mantle Ridge\") or any of the other participants in the proxy solicitation described herein prove to be incorrect, the actual results may vary materially from outcomes indicated by these statements. Accordingly, forward-looking statements should not be regarded as a representation by Mantle Ridge that the future plans, estimates or expectations contemplated will ever be achieved.\nCertain statements and information included herein may have been sourced from third parties. Mantle Ridge does not make any representations regarding the accuracy, completeness or timeliness of such third party statements or information.  Except as may be expressly set forth herein, permission to cite such statements or information has neither been sought nor obtained from such third parties, nor has Mantle Ridge paid for any such statements or information. Any such statements or information should not be viewed as an indication of support from such third parties for the views expressed herein.\nMantle Ridge disclaims any obligation to update the information herein or to disclose the results of any revisions that may be made to any projected results or forward-looking statements herein to reflect events or circumstances after the date of such information, projected results or statements or to reflect the occurrence of anticipated or unanticipated events.\nCERTAIN INFORMATION CONCERNING THE PARTICIPANTS\nMantle Ridge LP and the other Participants (as defined below) have filed a definitive proxy statement (the \"Definitive Proxy Statement\") and accompanying BLUE universal proxy card or voting instruction form with the SEC to be used to solicit proxies for, among other matters, the election of its slate of director nominees at the 2025 annual meeting of stockholders of the Company (the \"2025 Annual Meeting\"). Shortly after filing the Definitive Proxy Statement with the SEC, Mantle Ridge LP furnished the Definitive Proxy Statement and accompanying BLUE universal proxy card or voting instruction form to some or all of the stockholders entitled to vote at the 2025 Annual Meeting.\nThe participants in the proxy solicitation are Mantle Ridge LP, Eagle Fund A1 Ltd, Eagle Advisor LLC, Paul Hilal (all of the foregoing persons, collectively, the \"Mantle Ridge Parties\"), Andrew Evans, Tracy McKibben and Dennis Reilley (such individuals, collectively with the Mantle Ridge Parties, the \"Participants\").\nIMPORTANT INFORMATION AND WHERE TO FIND IT\nMANTLE RIDGE LP STRONGLY ADVISES ALL STOCKHOLDERS OF THE COMPANY TO READ ITS DEFINITIVE PROXY STATEMENT, ANY AMENDMENTS OR SUPPLEMENTS TO SUCH PROXY STATEMENT AND OTHER PROXY MATERIALS FILED BY MANTLE RIDGE LP WITH THE SEC AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC'S WEBSITE AT WWW.SEC.GOV. THE DEFINITIVE PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS ARE ALSO AVAILABLE ON THE SEC'S WEBSITE, FREE OF CHARGE, OR BY DIRECTING A REQUEST TO THE PARTICIPANTS' PROXY SOLICITOR, D.F. KING & CO., INC., 48 WALL STREET, 22ND FLOOR, NEW YORK, NEW YORK 10005. STOCKHOLDERS CAN CALL TOLL-FREE: (888) 628-8208.\nInformation about the Participants and a description of their direct or indirect interests by security holdings or otherwise can be found in the Definitive Proxy Statement.\nInvestor ContactD.F. King & Co., Inc.Edward McCarthyTel: (212) 493-6952\nMedia ContactsJonathan Gasthalter / Nathaniel GarnickGasthalter & Co.Tel: (212) 257-4170Email: RefreshingAPD@gasthalter.com\n View original content to download multimedia:https://www.prnewswire.com/news-releases/mantle-ridge-issues-shareholder-letter-restoring-integrity-is-necessary-for-air-products-and-chemicals-inc-to-recover-and-return-to-prosperity-302342561.html\nSOURCE Mantle Ridge LP","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2501239634"}