Here's Why Air Products Stock Declined in December and Why Its Annual General Meeting Could Be a Thriller

Shares of industrial gas company Air Products (NYSE: APD) declined by 13.2% in December, according to data provided by S&P Global Market Intelligence. End markets and operational matters usually drive share prices, but this decline is a reaction to administrative matters -- in other words, how Air Products is being run.In December, Air Products' management and the activist hedge fund Mantle Ridge engaged in a war of words instigated by the latter's determination to restructure the board and replace Air Products CEO Seifi Ghasemi.In a statement on Dec. 5, Mantle Ridge (owner of 1.8% of the company's stock) proposed four independent candidates to the Board because "the Board would not engage in a collaborative process of Board reconstruction." The four nominees include former Praxair CEO Dennis Reilley, who Mantle Ridge hopes will take a leadership role. Mantle Ridge also hopes to establish industry veteran Eduardo Menezes as CEO. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool