Summary
Air Products & Chemicals, Inc. (APD) announced a significant change to its Board of Directors with the election of Wayne T. Smith, effective August 1, 2021. Mr. Smith brings extensive experience, having most recently served as Chairman and Chief Executive Officer of BASF Corporation, overseeing major divisions and holding a position on its parent company's management board. This appointment is viewed as a positive development, bringing seasoned leadership to the board. Mr. Smith has been determined to be an independent director, meeting New York Stock Exchange listing standards and the Company's Corporate Governance Guidelines. He will be a valuable addition to the Audit and Finance Committee and the Management Development and Compensation Committee. His compensation will align with the company's standard arrangements for non-employee directors, and there are no undisclosed arrangements or reportable transactions involving Mr. Smith, ensuring transparency and good governance.
Key Highlights
- 1Wayne T. Smith elected as a director, effective August 1, 2021.
- 2Mr. Smith has significant executive experience, including his recent role as Chairman and CEO of BASF Corporation.
- 3Mr. Smith is considered an independent director under NYSE and company standards.
- 4He will serve on the Audit and Finance Committee and the Management Development and Compensation Committee.
- 5Mr. Smith's compensation will be in line with other non-employee directors.
- 6No undisclosed arrangements or reportable transactions exist between Mr. Smith and the company.
- 7The election is detailed in an accompanying press release filed as an exhibit.