Air Products Announces CEO Transition with Eduardo F. Menezes

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announced that Eduardo F. Menezes will succeed Seifollah (Seifi) Ghasemi as Chief Executive Officer effective February 7, 2025. Mr. Menezes will also join the Company's board of directors. The board named Wayne T. Smith as Chairman and Dennis H. Reilley as Vice Chairman. Mr. Menezes, with over three decades of experience in the industrial gases sector, will have an initial base salary of $1,270,000 and an annual incentive plan target of 145% of his base salary. He will also receive an equity incentive valued at $9,888,000 for fiscal 2025. Mr. Ghasemi, who has served as CEO for over 10 years, will receive severance and other benefits in accordance with his Employment Agreement.

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About Air Products and Chemicals Inc.

Air Products and Chemicals Inc. is a prominent player in the industrial gases sector, providing essential products that serve a myriad of industries worldwide. This global entity specializes in offering atmospheric gases, process, and specialty gases, equipment, and related services to a diverse range of clients, including those in energy, transportation, and technology sectors. Notably, Air Products is a leader in supplying hydrogen and helium solutions, which are critical for refining, aerospace, and electronics manufacturing. The company's liquid hydrogen production plays a significant role in advancing clean energy solutions, such as hydrogen fuel cells for vehicles. Founded in 1940 and headquartered in Allentown, Pennsylvania, Air Products maintains a significant presence in over 50 countries. Its commitment to sustainability and innovation makes it a vital contributor to the global shift towards greener industrial processes and cleaner energy solutions. By maintaining a robust infrastructure of production and distribution, Air Products ensures the secure and efficient delivery of vital industrial gases, underscoring its critical role in numerous sectors that depend on reliable and sustainable supply chains.