Mantle Ridge, which owns 1.3B of Air Products (APD) and Chemicals, sent a letter to the company’s shareholders “highlighting the critical sector expertise, value creation ability, and extensive public company CEO, CFO, and Board leadership experience” of its four independent director nominees – Andrew Evans, Paul Hilal, Tracy McKibben, and Dennis Reilley – seeking election to the company’s board at its annual meeting of shareholders. The letter “also outlines the many leadership failures of select incumbent directors – Charles Cogut, Lisa A. Davis, Seifollah ‘Seifi’ Ghasemi, and Edward L. Monser – who Mantle Ridge believes are most responsible for the last five years of Air Products’ chronic underperformance,” the activist said in a statement.
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