Air Products Refreshes Board Ahead of Face-Off With Activists

Air Products and Chemicals Inc. named two new board members ahead of its shareholder meeting in a potentially defensive move against pressure from two activist investors.

The company named industrials executives Bob Patel and Alfred Stern as candidates for the 2025 board election, according to a statement Monday. Two existing board members — David Ho and Matthew Paull — will not seek re-election.

Air Products is set to face off with two activist investors, Mantle Ridge LP and DE Shaw & Co, at its upcoming shareholder meeting, which typically happens in January. The investors have asked the company to ...