Mantle Ridge's board nominees for Air Products get backing from Egan-Jones

APD

(Reuters) - Mantle Ridge's slate of board nominees for industrial gases maker Air Products and Chemicals has won support from proxy advisory firm Egan-Jones Proxy Services, the activist investor said of Tuesday.

Recently, proxy advisory firms Institutional Shareholder Services and Glass Lewis have also backed Mantle Ridge, which has been pushing for changes at the company, including finding a new CEO and overhauling its strategy.

Mantle Ridge is asking shareholders to elect its nominees, including its founder Paul Hilal, to the nine-member board.

Air Products and Chemicals' 2025 annual shareholders meeting is scheduled for Jan. 23.

(Reporting by Mrinalika Roy in Bengaluru; Editing by Shinjini Ganguli)