Activist investor Mantle Ridge acquires $1B+ stake in Air Products, aims to discuss strategic planning and succession for underperforming CEO.

Activist investor Mantle Ridge, led by Paul Hilal, has acquired a stake exceeding $1 billion in Air Products and Chemicals. The firm seeks to meet with the company's board to discuss strategic planning and capital allocation, as well as succession for 80-year-old CEO Seifi Ghasemi. This initiative follows Air Products’ underperformance relative to the S&P 500 for two successive years.

October 04, 2024
6 Articles