Your vote at Air-Products’ upcoming Annual Meeting of Shareholders on January 23, 2025 is critical and more important than ever this year.
Although Air Products is required to include all nominees for election on its universal proxy card, Air Products does not endorse any of the Mantle Ridge nominees or Mantle Ridge’s proposal to amend the Bylaws (the “Bylaw Proposal”) and recommends shareholders vote "FOR" only each of the Air Products’ director nominees recommended by your Board:
Tonit M. Calaway, Charles (“Casey”) Cogut, Lisa A. Davis, Seifollah (“Seifi”) Ghasemi, Jessica Trocchi Graziano, Edward L. Monser, Bhavesh V. (“Bob”) Patel, Wayne T. Smith, and Alfred Stern
Vote "AGAINST" the Bylaw Proposal using the WHITE proxy card or WHITE voting instruction form.
How to VoteGuided by our experienced Board of Directors and management team, Air Products is executing a two-pillar growth strategy to continue profitably growing our core industrial gas business while capitalizing on our first-mover advantage in the clean hydrogen market, which we believe will produce tremendous value for our shareholders over the long-term.
We continue to take a disciplined approach to capital allocation and are conducting a thoughtful succession planning process to identify a President to serve as a qualified successor to Mr. Ghasemi – a process driven by our Lead Independent Director and with the support of the full Board and an executive search firm.
We are delivering on our strategy
Air Products’ higher purpose is to bring people together to collaborate and innovate solutions to the world’s most pressing energy and environmental challenges. This drives our pursuit of sustainable, long-term growth opportunities to deliver value to our shareholders, customers, and employees, as well as to communities around the world where we have operations.
Our growth strategy is focused on creating shareholder value. Our core industrial gas business continues to achieve industry-leading profitability. At the same time, Air Products is acting as a first mover to deliver clean hydrogen at scale.
Our StrategyKey highlights
$1.6bn
Returned to shareholders via dividends in 2024
42
Consecutive years of dividend growth
$12.1bn
In sales with a strong existing base business delivering double-digit adjusted EPS growth since 2014
Delivering continued industry-leading profitability
Adjusted EBITDA Margin*
Improved ~2,000 basis point since FY2014
*Non-GAAP financial measure. Visit investors.airproducts.com for reconciliation.
Delivering 40+ Consecutive Years of Dividend Increases
Dividend History
~$1.6 billion of dividend payments to shareholders expected in 2024
*Based on annualized quarterly dividend declared in first quarter.
Strength in our leadership
We are governed by a highly experienced and qualified Board. With the Board’s commitment to ongoing refreshment, we recently announced plans to nominate Bhavesh V. “Bob” Patel and Alfred Stern for election to the Board at the Company’s 2025 Annual Meeting. Following these changes, the Board will continue to be comprised of nine Directors, six of whom will have been appointed in the last five years.
Regular Board Refreshment
As of the annual meeting, six of our nine Directors will have been appointed in the past five years.
Learn more about our director nominees.
Our Directors
Advocacy
Support from across our community*
*Permission to use quotations neither sought nor obtained
Latest News and Resources
Shareholder Letter
Dec 18 2024
Air Products’ Board of Directors Issues Third Open Letter to Shareholders
Investor Presentations
Dec 18 2024
Investor Presentation
Press Release
Dec 18 2024
Air Products Files Investor Presentation Highlighting Successful Two-Pillar Strategy to Deliver Superior Shareholder Value
Mantle Ridge’s Proposed Nominees
Mantle Ridge is seeking to replace four directors who are integral to our Board: Seifollah (Seifi) Ghasemi, Edward L. Monser, Charles Cogut and Lisa A. Davis.
If successful, Mantle Ridge’s nominees would eliminate significant and relevant expertise brought by these current directors and disrupt the significant progress the Company has made.
Learn moreCAST YOUR VOTE
Your vote matters! Vote "FOR" only Air Products Director Nominees on the WHITE Proxy Card today!
HOW TO VOTE