It looks like Air Products’ CEO could be on the way out after a shareholder vote on board of directors seats went the way of activist investor Mantle Ridge, which has been pushing for a change in leadership in the executive position and on the board.

Change is coming for Air Products and Chemicals after the industrial gas company lost a boardroom fight with the activist investment firm Mantle Ridge. This site uses cookies to enhance your user experience. By continuing to use this site you are agreeing to our COOKIE POLICY.

Air Products and Chemicals shareholders on Thursday handed activist investor Mantle Ridge Capital Management victory by electing three of its four proposed director candidates to the industrial gases company's nine-member board,

Mantle Ridge owns about $1.3 billion (or about 1.8%) in common shares of Air Products stock. It had waged a months-long campaign, calling for major changes at the industrial gas company, which is headquartered in Upper Macungie Township.

Activist investor Mantle Ridge has won three seats on the board of hydrogen supplier Air Products and Chemicals Inc.

Shareholders of Air Products and Chemicals (NASDAQ:NYSE:APD) on Thursday elected three out of four director candidates proposed by activist investor Mantle Ridge Capital Management to the company's nine-member board,