Air Products names former Linde executive Eduardo Menezes as CEO (updated)

Linde

04/02/2025 14:17

(Adds details throughout)
       Feb 4 (Reuters) - Industrial gases manufacturer Air
Products  APD.N  said on Tuesday it has named former Linde
 LIN.DE  executive Eduardo Menezes as its CEO and will succeed
Seifi Ghasemi effective Feb. 7, amid pressure from activist
investors.
    Last month, Air Products lost the proxy fight against Mantle
Ridge after shareholders handed victory to the activist investor
which had been pushing the company to replace its 80-year-old
chief, by electing three new directors and unseating the CEO
from the board.
    Hedge fund D.E. Shaw abandoned its own campaign for change
to lend support to Mantle Ridge's earlier campaign.
    The company also named Wayne Smith as Chairman and Dennis
Reilley as Vice Chairman of the board. Menezes and Dennis
Reilley have held executive positions at rival firm Linde
 LIN.DE .

 (Reporting by Tanay Dhumal and Vallari Srivastava in Bengaluru;
Editing by Krishna Chandra Eluri)
 ((Tanay.Dhumal@thomsonreuters.com; Twitter: https://twitter.com/TanayDhumal;))