#USA #New York #Air Products #Mantle Ridge #Eduardo Menezes

Mantle Ridge's Latest Initiative to Reshape Air Products

In a bold move aimed at revitalizing Air Products and Chemicals, Inc., Mantle Ridge LP has rolled out a compelling video series featuring its nominated candidates for the company's Board of Directors. This initiative, announced on January 7, 2025, seeks to engage shareholders by presenting a clear case for change amid a backdrop of perceived underperformance under the current leadership.

The series introduces four independent shareholder nominees: Andrew Evans, Paul Hilal, Tracy McKibben, and Dennis Reilley. Alongside them is the proposed CEO candidate, Eduardo Menezes. The content not only highlights the qualifications and visions of the nominees but also delves into the underlying issues contributing to Air Products' recent challenges. Ricardo Malfitano, former Executive Vice President of Praxair, contributes his insights regarding the experiences and competencies of Menezes and Reilley, enhancing the narrative with expert credibility.

Understanding the Need for Change
Mantle Ridge holds a substantial stake in Air Products, valued at approximately $1.3 billion, and it asserts that the Company has struggled under its current management. The video series aims to articulate these concerns and outline actionable solutions that could lead to enhanced performance and long-term value creation for shareholders. The call to action is clear: shareholders are urged to support Mantle Ridge’s candidates by voting the BLUE Proxy Card in favor of their slate while withholding votes for the current company nominees.

A Call for Engagement
As part of its strategy, Mantle Ridge encourages shareholders to explore the available video content, which can be accessed at www.RefreshingAirProducts.com. This platform hosts not only the video interviews but also supplementary materials that provide a comprehensive overview of the proposed changes. Mantle Ridge expresses that the future of Air Products hinges on the engagement of its shareholders, making it crucial for them to stay informed and take an active part in the upcoming annual meeting.

About Mantle Ridge
Founded in 2016, Mantle Ridge distinguishes itself as a long-term owner-steward rather than a traditional hedge fund. The organization prioritizes sustainable value creation in collaboration with company boards. Mantle Ridge's previous engagements include significant roles in the transformations of companies like CSX Corporation and Aramark.

As they move forward, Mantle Ridge remains committed to fostering dialogues that enhance corporate governance and align business strategies with stakeholder interests.

Important Reminders for Shareholders
As the annual meeting approaches, Mantle Ridge emphasizes the importance of reviewing the Definitive Proxy Statement, which contains critical information related to the nominees and the stakes involved. Shareholders are advised to remain vigilant and informed about the voting process and the implications of their choices.

The introduction of the video series marks a proactive approach by Mantle Ridge to not only present its nominees but also to engage in transparent communication about the necessity of change within Air Products. This initiative reinforces the belief that the future of the company can be secured through collaborative efforts and informed decision-making by its shareholders.