Air Products Urges Shareholders to Vote for Stability and Value Creation
Key Ideas
- Air Products encourages shareholders to vote 'FOR' its nominees for stability, growth, and long-term value creation.
- The company warns against following ISS' voting recommendation and highlights potential negative impacts on the company and investment.
- Shareholders are urged to vote using the WHITE proxy card and discard any blue proxy cards received from Mantle Ridge.
- The Air Products Board of Directors recommends voting 'FOR' only Air Products' nominees to safeguard long-term shareholder value and the company's future.
Air Products' Board of Directors has sent a letter to shareholders ahead of the 2025 Annual Meeting, emphasizing the importance of voting 'FOR' Air Products' nominees on the WHITE proxy card. The letter warns shareholders against following ISS' voting recommendation, stating it could have a serious negative impact on the company and their investment. The Board presents two choices for shareholders: to achieve stability, growth, and long-term value creation with Air Products' fit-for-purpose board, or risk limited growth, value destruction, and an uncertain future with Mantle Ridge's nominees, who are suggested to lack the necessary experience and forward plan. Air Products urges shareholders to consider voting for its nominees to oversee the base business, implement a growth strategy, and ensure a smooth CEO transition. The Board highlights the risks of allowing Mantle Ridge to influence the leadership and strategic direction of the company. With a focus on protecting long-term shareholder value, the Board recommends voting 'FOR' only Air Products' nominees. Shareholders are encouraged to vote through the WHITE proxy card provided and to disregard any blue proxy cards from Mantle Ridge. The Board's unanimous recommendation is to vote 'FOR' only Air Products' nominees and proposals to ensure the company's stability and growth. Additionally, the article provides information about Air Products as a world-leading industrial gases company, emphasizing its focus on serving various markets and its significant role in developing clean hydrogen projects to support the transition to low-carbon energy. The company's commitment to environmental sustainability and innovation is highlighted, along with its fiscal 2024 sales and global presence.