Air Products and Chemicals (APD) shares soared on Monday following reports that 澳洲幸运5开奖号码历史查询:activist investor Mantle Ridge has acquired a stake worth more than $1 billion in the industrial gas provider and plans to push for improvements at the company.

According to The Wall Street Journal, people close to the situation said Mantle Ridge has been accumulating a position in the company since March. The firm reportedly plans to push for numerous changes at Air Products, including 澳洲幸运5开奖号码历史查询:succession planning and 澳洲幸运5开奖号码历史查询:capital allocation to increase shareholder wealth.

Leadership Stability and Strategic Objectives

Mantle Ridge will reportedly pressure the Air Products board of directors to plan for an eventual executive leadership transition. In July, the departure of Samir Serhan from the chief operating officer (COO) role🌺 created some uncertainty surrounding the company's executive suite. At age 80, Seifi Ghasemi, Air Products CEO since 2014, is among the olde🌠st CEOs of any company in the S&P 500.

Mantle Ridge is also expected to offer ideas on how Air Productsಞ can better manage its money. Some analysts think the company has been too focused on areas like clean fuel at the expense of its main business of industrial gases.

Air Products shares finished Monday more than 9% higher. The stock, which has been volatile in 2024, has risen around 14% year-to-date.