A New Era for Air Products: Mantle Ridge Pushes for Change in Board Leadership
In a bold initiative to reform the governance at Air Products and Chemicals, Inc., Mantle Ridge LP has reached out to shareholders with a clear message: it’s time for a fresh start. With approximately $1.3 billion in shares, Mantle Ridge has a vested interest in the company's performance and is advocating for its slate of highly qualified director nominees for the upcoming 2025 Annual Meeting of Shareholders.
The letter sent by Mantle Ridge emphasizes the strengths and experience of its four nominees: Andrew Evans, Paul Hilal, Tracy McKibben, and Dennis Reilley. Each candidate brings a wealth of industry knowledge as well as a track record of leadership in large public companies. They aim to address the shortcomings highlighted in the current board's performance, suggesting that the incumbent directors have overseen chronic underperformance over the past five years, attributed to several factors including poor capital allocation, flawed strategy, and ineffective management practices.
Mantle Ridge’s communication underscores the necessity for accountability and transparency within the boardroom. The letter points out specific issues including a lack of successful project executions, deficiencies in management development and succession planning, and a general degradation of board composition and governance frameworks. These failures have, according to Mantle Ridge, contributed to a diminished shareholder value, urging a change in leadership to safeguard future value creation for shareholders.
At the crux of their argument, Mantle Ridge is recommending that shareholders favor their blue proxy card to elect their nominated candidates, while withholding support for the existing board members Charles Cogut, Lisa A. Davis, Seifollah “Seifi” Ghasemi, and Edward L. Monser. This strategy is designed to ensure a reformed direction for the company, committing to a more robust governance structure that aligns with shareholders’ interests.
The dialogue initiated by Mantle Ridge invites all shareholders to engage in this important process, providing them with access to the full letter and related documents via their dedicated website, RefreshingAirProducts.com. The organization, founded in 2016, embodies a long-term investor philosophy, emphasizing a cooperative approach with company boards to foster sustainable long-term success.
As stakeholders prepare for the upcoming election, it’s essential they consider the implications of their votes carefully. The potential for enhanced governance and operational performance hinges on these crucial decisions made in the boardroom. Mantle Ridge's assertive engagement signals the desire for a significant shift within Air Products, aligning its leadership with the strategic vision necessary for future growth and stability.
Shareholders are encouraged to stay informed about the developments emerging from this campaign and consider the pressing needs for leadership accountability and strategic effectiveness. The stakes are high as they approach the decision-making period, ultimately deciding the future trajectory of Air Products and its capacity to deliver shareholder value. As this narrative unfolds, it becomes critical to observe the shifts in governance that could define a new era for one of the key players in the chemical manufacturing industry.
The letter sent by Mantle Ridge emphasizes the strengths and experience of its four nominees: Andrew Evans, Paul Hilal, Tracy McKibben, and Dennis Reilley. Each candidate brings a wealth of industry knowledge as well as a track record of leadership in large public companies. They aim to address the shortcomings highlighted in the current board's performance, suggesting that the incumbent directors have overseen chronic underperformance over the past five years, attributed to several factors including poor capital allocation, flawed strategy, and ineffective management practices.
Mantle Ridge’s communication underscores the necessity for accountability and transparency within the boardroom. The letter points out specific issues including a lack of successful project executions, deficiencies in management development and succession planning, and a general degradation of board composition and governance frameworks. These failures have, according to Mantle Ridge, contributed to a diminished shareholder value, urging a change in leadership to safeguard future value creation for shareholders.
At the crux of their argument, Mantle Ridge is recommending that shareholders favor their blue proxy card to elect their nominated candidates, while withholding support for the existing board members Charles Cogut, Lisa A. Davis, Seifollah “Seifi” Ghasemi, and Edward L. Monser. This strategy is designed to ensure a reformed direction for the company, committing to a more robust governance structure that aligns with shareholders’ interests.
The dialogue initiated by Mantle Ridge invites all shareholders to engage in this important process, providing them with access to the full letter and related documents via their dedicated website, RefreshingAirProducts.com. The organization, founded in 2016, embodies a long-term investor philosophy, emphasizing a cooperative approach with company boards to foster sustainable long-term success.
As stakeholders prepare for the upcoming election, it’s essential they consider the implications of their votes carefully. The potential for enhanced governance and operational performance hinges on these crucial decisions made in the boardroom. Mantle Ridge's assertive engagement signals the desire for a significant shift within Air Products, aligning its leadership with the strategic vision necessary for future growth and stability.
Shareholders are encouraged to stay informed about the developments emerging from this campaign and consider the pressing needs for leadership accountability and strategic effectiveness. The stakes are high as they approach the decision-making period, ultimately deciding the future trajectory of Air Products and its capacity to deliver shareholder value. As this narrative unfolds, it becomes critical to observe the shifts in governance that could define a new era for one of the key players in the chemical manufacturing industry.
Topics Financial Services & Investing）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.