Leadership Transition at Air Products
Air Products has announced a significant leadership transition, appointing Eduardo F. Menezes as the new Chief Executive Officer (CEO), effective February 7, 2025. Menezes will succeed Seifollah Ghasemi, who is stepping down after more than a decade of dedicated service to the company. This change marks a pivotal moment for Air Products as it continues to build on its strong market position in the industrial gases sector.
Additionally, the company’s Board of Directors has appointed Wayne T. Smith as Chairman and Dennis H. Reilley as Vice Chairman. Together, they will collaborate with Menezes and the leadership team to further Air Products’ strategic objectives and enhance shareholder value.
The Selection of Eduardo F. Menezes
The appointment of Eduardo Menezes follows an extensive search for a leader who possesses deep industry expertise and a proven track record in global operations. Wayne T. Smith, Chairman of Air Products’ Board, commented on the decision, stating:
“After evaluating various exceptional candidates for the CEO role, the Board determined that Eduardo’s knowledge, skills, and extensive experience in the industrial gases sector, including more than three-and-a-half decades in progressively senior roles at Linde plc and operating experience across the world, make him uniquely qualified to take Air Products forward and maximize value for shareholders.”
Menezes himself expressed enthusiasm for the new role, emphasizing his commitment to driving growth and innovation at Air Products. He said:
“Air Products is a fantastic company with a great future, and I am honored to have this opportunity to work with the talented team to build on the Company’s strong positions. I look forward to applying the experiences and perspectives I’ve gained in working across various sectors of industrial gases in different countries around the world. With our collective focus and discipline, I am confident in our ability to drive superior value.”
Eduardo Menezes’ Industry Experience
Eduardo Menezes brings extensive international experience in the industrial gases industry. His expertise spans all major segments, including on-site supply, merchant liquid, packaged gases, and hydrogen. Before joining Air Products, Menezes served as the Executive Vice President (EVP) of Linde plc for Europe, the Middle East, and Africa, where he oversaw operations in more than 40 countries. Under his leadership, the region generated over $8 billion in sales and employed 18,000 personnel.
Prior to Linde, Menezes worked at Praxair, holding multiple senior positions. His roles included EVP for North America, as well as general management and business development positions in the United States, Spain, Mexico, and Brazil. His extensive operational background and global perspective position him well to lead Air Products into its next phase of growth and expansion.
Menezes holds an M.B.A. from the State University of New York and a degree in chemical engineering from the Federal University of Rio de Janeiro, Brazil.
Seifi Ghasemi’s Legacy at Air Products
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Seifi Ghasemi leaves behind a legacy of transformation and growth at Air Products. Since assuming the CEO role in 2014, Ghasemi spearheaded strategic initiatives that significantly enhanced the company’s profitability and global footprint. His tenure saw substantial advancements in safety, operational efficiency, and financial performance.
Reflecting on his time at the company, Ghasemi stated:
“Leading Air Products over the last 10 years has been an honor and a privilege. When I became CEO in 2014, we made it our mission to drive for new levels of profitability and growth. Working alongside the talented leadership team and our committed and motivated employees around the world, I am very proud to say that we achieved that, taking Air Products to new heights. That result is due to the hard work of the people of Air Products, and I have no doubt they will drive the Company’s continued success into the future.”
Wayne T. Smith also praised Ghasemi’s leadership, acknowledging his contributions:
“On behalf of the full Board, Air Products’ leadership team, and employees, we thank Seifi for his countless contributions and leadership of Air Products over the last decade. Seifi’s commitment to safety, his ability to bring people together to innovate and collaborate, and his relentless drive to ‘be the best’ will continue to serve the Company well as we deliver value for customers, shareholders, and our operating communities around the world.”
Ghasemi’s departure marks the end of an era for Air Products, but his impact will undoubtedly continue to shape the company’s future trajectory.
The Role of New Board Chairman Wayne T. Smith
Alongside Menezes’ appointment as CEO, Air Products has named Wayne T. Smith as the new Chairman of the Board. Smith has been a director at Air Products since 2021 and brings over 35 years of experience in senior management within the chemicals industry. His extensive expertise includes leadership roles in industrial gases and operational management.
Smith previously served as the Chairman and CEO of BASF Corporation, where he managed global business portfolios worth over $25 billion. His experience also includes executive roles at W.R. Grace and Company and The BOC Group, where he specialized in specialty chemicals and industrial gas solutions. His strategic insight and leadership will be instrumental in guiding Air Products’ continued growth.
Smith is also a board director at ONEOK, Inc. and has previously served on the board of Inter Pipeline Ltd. He holds a Bachelor of Science degree in Chemical Engineering from Syracuse University and an M.B.A. from the Wharton School of the University of Pennsylvania.
Future Outlook for Air Products Under Eduardo Menezes
With Eduardo Menezes stepping in as CEO, Air Products is poised to capitalize on new growth opportunities in the industrial gases market. Menezes’ leadership experience, combined with his deep knowledge of global operations, will be essential in driving the company’s strategic initiatives forward.
As the industry continues to evolve, Air Products remains committed to innovation, sustainability, and delivering value to its customers and shareholders. Menezes’ background in hydrogen and industrial gas solutions aligns well with Air Products’ ongoing efforts to expand its footprint in clean energy and sustainable technologies.
With a strong leadership team in place, Air Products is well-positioned for continued success in the years ahead.
About Board Chairman Wayne T. Smith
Wayne T. Smith is Chairman of the Air Products Board. He served as director of Air Products since 2021. He brings 35 years of senior management experience in the chemicals industries, including extensive industrial gases leadership and operational experience. He is the retired Chairman and Chief Executive Officer of BASF Corporation, where he served from May 2015 through May 2021. He was also a member of the Board of Executive Directors of the parent company, BASF SE, from 2012 through May 2021, responsible for global business portfolios exceeding $25 billion dollars in revenue. He joined BASF in 2004.
Prior to that, Mr. Smith was vice president and general manager of Specialty Construction Chemicals at W.R. Grace and Company, where he led the strategy development, growth and profitability of that unit worldwide. Before joining W.R. Grace, Mr. Smith served in positions of increasing responsibility with The BOC Group, culminating as vice president and general manager of the company’s Packaged Products business.
Mr. Smith serves as a director on the board of ONEOK, Inc. and is a former director of Inter Pipeline Ltd.
Mr. Smith holds a Bachelor of Science degree in Chemical Engineering from Syracuse University and an M.B.A. from the Wharton School of the University of Pennsylvania.
About Board Vice Chairman Dennis H. Reilley
Dennis H. Reilley is Vice Chairman of the Air Products Board. He served as Chairman, President and Chief Executive Officer of Praxair, Inc., a worldwide industrial gases company now part of Linde plc, from 2000 until his retirement in 2007. Before joining Praxair, Inc., Mr. Reilley held several senior executive positions at E.I. DuPont de Nemours and Company, including executive vice president and Chief Operating Officer, executive vice president, vice president and general manager of the Lycra business, vice president and general manager of its specialty chemicals division, and vice president and general manager of its titanium dioxide division. Mr. Reilley previously served as a senior executive at Conoco Inc.
Mr. Reilley also previously served as Chairman of the Board of Marathon Oil Corporation and as Chairman of the Board of Covidien.
Mr. Reilley has also served on the boards of DuPont de Nemours, Inc., CSX Corporation, The Dow Chemical Company, H.J. Heinz & Co., and Entergy Corporation.
Mr. Reilley holds a B.S. in Finance from Oklahoma State University.
About Air Products
Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets and generating a cleaner future. The Company supplies essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, medical and food. As the leading global supplier of hydrogen, Air Products also develops, engineers, builds, owns and operates some of the world’s largest clean hydrogen projects, supporting the transition to low- and zero-carbon energy in the industrial and heavy-duty transportation sectors. Through its sale of equipment businesses, the Company also provides turbomachinery, membrane systems and cryogenic containers globally.
Air Products had fiscal 2024 sales of $12.1 billion from operations in approximately 50 countries and has a current market capitalization of over $65 billion. Approximately 23,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products’ higher purpose to create innovative solutions that benefit the environment, enhance sustainability and reimagine what’s possible to address the challenges facing customers, communities, and the world. For more information, visit airproducts.com or follow us on LinkedIn, X, Facebook or Instagram.
