LEHIGH VALLEY, Pa., Jan. 8, 2025 /PRNewswire/ -- Air Products' (NYSE:APD) Board of Directors today issued the following statement in response to Mantle Ridge's Shareholder letter, issued today:Mantle Ridge is proposing that Air Products be controlled by Mantle Ridge's hand-picked candidates for CEO and Chairman. This should be troubling to all Air Products shareholders for the following reasons: Mantle Ridge Chairman nominee Dennis Reilley has not held a management position in 18 years and would be coming i ...

Explains How Implementing Best-In-Class Linde/Praxair Operating Model Authored by Dennis Reilley Can Re-Establish a Culture of Excellence, Relentless Cost Focus, Disciplined Capital Allocation and Project Execution to Deliver Exceptional Value for Air Products' ShareholdersBelieves "Dream Team" of Dennis Reilley and Eduardo Menezes Would Bring the Specialized Skills, Deep Industry Knowledge, and Sound Judgement Necessary to Lead Air Products TodayMantle's Ridge's Four Highly Qualified Director Nominees – An ...

LEHIGH VALLEY, Pa., Jan. 7, 2025 /PRNewswire/ -- Air Products' (NYSE:APD) Board of Directors today issued the following statement: Air Products is executing on a rigorous CEO succession plan, announced long before Mantle Ridge and D.E. Shaw started advocating for succession, while refreshing its Board with two highly qualified directors at the 2025 Annual Meeting of Shareholders. The Board has clearly articulated a CEO succession plan to ensure a smooth transition between Mr. Ghasemi and his successor and h ...

Introduces Four Independent Shareholder Nominees – Andrew Evans, Paul Hilal, Tracy McKibben, and Dennis Reilley – and Proposed CEO Candidate Eduardo MenezesIncludes Perspectives from Former Praxair EVP Ricardo Malfitano on Messrs. Menezes and ReilleyExplains Nature and Causes of Air Products' Underperformance Under Current Leadership, and the SolutionUrges Shareholders to Vote the BLUE Proxy Card "FOR" Mantle Ridge's Four Highly Qualified Director Nominees and "WITHHOLD" on the Company Nominees Charles Cogu ...

Details Some of the Company's Omissions, Obfuscations, and Misleading Statements Concerning Air Products' Performance, Strategy, and Key ProjectsShareholder-Led Board Refreshment is the Necessary First Step Toward Recovering from Damage Done Over Mr. Seifi Ghasemi's Last Five Years as Chairman and CEOAir 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 ...

Air Products and Chemicals, Inc. (APD) benefits from its project investments, productivity actions and new business deals amid the softness in China and Europe.The company’s shares have gained 4.8% over a year compared with the Zacks Chemicals Diversified industry’s 11.2% decline. Image Source: Zacks Investment ResearchLet’s find out why APD stock is worth retaining at the moment.High-return Projects & Productivity Actions Aid Air ProductsAir Products is well-placed to gain from its investments in high-retu ...

Expresses Disappointment with the Board's Failure to Manage an Effective CEO Succession ProcessAnnounces Intention to Support Change at the 2025 Annual MeetingNEW YORK, Jan. 3, 2025 /PRNewswire/ -- The D. E. Shaw group ("D. E. Shaw"), a global investment and technology development firm with more than $65 billion in investment capital and a history of working with companies to help build long-term value, today sent an open letter to the Board of Directors of Air Products and Chemicals, Inc. (NYSE: APD) (the ...

公司表现与市场地位 - Sherwin-Williams在DIY家居装修项目需求增加的推动下表现强劲，抵消了工业和商业领域的疲软 [2] - 公司股票在过去十年中大幅跑赢标普500指数，长期投资者获得显著收益 [12] - Sherwin-Williams在2024年11月被纳入道琼斯工业平均指数，证明了其行业领先地位和业务增长实力 [7] - 公司成功应对了COVID-19疫情，并在近年来持续增长，目前创下了历史最高的盈利、10年最高的利润率以及接近历史最高的销售额 [13][21] 股息与财务健康 - Sherwin-Williams的股息收益率仅为0.8%，但公司在2024年2月宣布将股息大幅提高18.2%，这是其连续第45年提高股息，预计到2029年将成为“股息之王” [3] - 公司的保守派息比率表明其财务状况稳健，过去五年平均派息比率为62%，能够持续将利润再投资于业务 [4] - Air Products在过去一年中股价上涨约8%，其2.4%的远期股息收益率对收入型投资者具有吸引力 [8] - Air Products在过去十年中以9%的复合年增长率提高股息，显示出其持续增加派息的承诺 [14] 行业趋势与未来展望 - 人工智能应用对电力的需求增加，预计未来电力需求将上升，进而对电力网络和燃料来源（如石油和天然气）施加更大压力 [5] - 天然气在经济中的重要性日益凸显，尽管清洁能源转型仍在进行，但天然气的能源结构中将长期占据重要地位 [9][24] - 美国大选结果可能带来更支持化石燃料的政府，特朗普承诺在其上任第一天批准液化天然气出口终端，并制定支持美国能源生产的政策 [19] - 氢能经济是Air Products的重点发展领域，公司已在该领域处于领先地位，并计划通过NEOM绿色氢能项目进一步扩大其市场份额，该项目预计在2026年底投入运营，将成为全球最大的绿色氢能项目，日产量达600公吨 [17][18] 投资机会与市场表现 - Sherwin-Williams、Air Products和Global X MLP ETF在2024年至今的涨幅分别为8%至11%，显示出强劲的市场表现 [20] - Global X MLP ETF持有20只中游管道和存储公司的股票，这些公司通常基于长期合同产生收入，并因其不缴纳公司税而能够支付较高的股息 [15] - Sherwin-Williams在2024年全年预计收入和盈利增长较为温和，但公司通过扩展品牌组合和利用全球供应链及分销网络，继续表现出色 [22]

公司业绩与战略 - 公司在Seifi Ghasemi的领导下，过去十年为股东创造了超过440亿美元的股东价值 [4][5] - 公司成功执行双支柱增长战略，一方面发展核心工业气体业务，另一方面利用先发优势进入清洁氢能市场 [1][8] - 公司调整后的EBITDA利润率增加了1400个基点，调整后的每股收益复合年增长率为11% [7] - 公司销售额以约4%的复合年增长率增长，高于所有公开同行 [7] - 公司已向股东返还了115亿美元现金，股息连续42年增长，过去十年的复合年增长率为9% [5] 清洁氢能市场 - 清洁氢能市场预计到2030年将超过6000亿美元，到2050年将超过1万亿美元 [12] - 清洁氢能可能贡献全球2050年总减排量的20% [12] - 公司在清洁氢能领域拥有超过65年的经验，处于领先地位 [13] - 公司已签署多项清洁氢能供应协议，包括与TotalEnergies的15年绿色氢能供应协议 [17] - 公司正在建设NEOM绿色氢能综合体，这是全球最大的绿色氢能氨生产设施 [17] 董事会与治理 - 公司董事会经过更新，独立且具备相关经验，适合公司未来发展 [18] - Mantle Ridge提名的董事候选人将移除董事会中的重要经验和专业知识 [19] - Mantle Ridge提名的执行主席候选人被认为不适合领导公司或任何上市公司 [26] - Mantle Ridge提名的CEO候选人缺乏上市公司CEO或董事会经验，不符合公司董事会设定的标准 [35] 股东投票与建议 - 公司董事会建议股东投票支持公司提名的九位董事候选人 [40][41] - 股东投票对公司未来发展至关重要，建议股东使用白色代理卡进行投票 [45]

Details Years of Operational Underperformance, Capital Allocation Missteps, Poor Project Execution, and Succession Planning FailuresExplains How Air Products' Decade of Board-Led "Refreshment" Only Deepened Entrenchment and Further Eroded Governance Safeguards; Current Search for New Subordinate to Seifi Ghasemi is Perpetuation of Status QuoExplains How Air Products Can Achieve Long-Term Potential Through Shareholder-Led Board Reconstitution and Bona Fide CEO Succession PlanOffers Compelling Leadership "Dre ...