Air Products said Eduardo F. Menezes will succeed Seifollah ("Seifi") Ghasemi as Chief Executive Officer effective February 4, 2025, and will join the board and serve on its executive committee, effective February 7, 2025.

1. 01

   Air Products said Eduardo F. Menezes will succeed Seifollah ("Seifi") Ghasemi as Chief Executive Officer effective February 4, 2025, and will join the board and serve on its executive committee, effective February 7, 2025.

2. 02

   The board named Wayne T. Smith as Chairman and Dennis H. Reilley as Vice Chairman, the company said. In its press release, the company said Ghasemi is leaving after more than 10 years.

3. 03

   Air Products set Menezes's initial base salary at $1,270,000 and his fiscal 2025 annual incentive plan target at 145% of base salary, pro-rated for his partial year. The grant date fair value of his fiscal 2025 equity incentive is $9,888,000, also pro-rated.

4. 04

   The company said Menezes spent more than 30 years at Linde plc and Praxair, and as Executive Vice President of Linde he had responsibility for operations in more than 40 countries with over $8 billion in sales and 18,000 employees. Equity incentive awards consist of 3-year performance shares at 60% and restricted stock units that vest after 4 years of service at 40%.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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