Who is Tonit M. Calaway and why is she joining the APD Board?

Tonit M. Calaway is a seasoned executive, currently serving as Executive Vice President, Chief Administrative Officer, General Counsel and Secretary at BorgWarner Inc. She has been elected as an independent director to Air Products' Board of Directors to bring her extensive experience in corporate governance, administration, and legal matters.

What committees will Ms. Calaway be a part of?

Effective March 1, 2022, Ms. Calaway will serve as a member of the Company's Corporate and Governance Committee and its Management Development and Compensation Committee.

Is Ms. Calaway considered an independent director?

Yes, the Board of Directors has reviewed Ms. Calaway's qualifications and concluded that she meets the independence standards required by the New York Stock Exchange listing standards and the Company's own Corporate Governance Guidelines.

How will Ms. Calaway be compensated for her board service?

Ms. Calaway will receive compensation and be subject to indemnification in line with the Company's standard practices for its non-employee directors. Further details are available in the Company's definitive proxy statement for its 2022 annual meeting of stockholders.

APD 8-K: Leadership Changes

Summary

Air Products & Chemicals, Inc. (APD) announced the election of Tonit M. Calaway as a new independent director to its Board of Directors, effective March 1, 2022. Ms. Calaway, who brings executive experience from her role as Executive Vice President, Chief Administrative Officer, General Counsel and Secretary at BorgWarner Inc., will enhance the Board's expertise and independence. Her appointment is a standard governance update and is designed to align with the Company's commitment to robust corporate governance. Investors can anticipate that Ms. Calaway's contributions will be focused on strategic oversight and committee work, specifically in the areas of Corporate Governance and Management Development and Compensation. This move signals a continued focus on strengthening the company's leadership and governance structure.

Key Highlights

1Appointment of Tonit M. Calaway as an independent director to the Board, effective March 1, 2022.
2Ms. Calaway's current executive role at BorgWarner Inc. brings significant corporate and legal expertise.
3The Board has determined Ms. Calaway meets independence standards under NYSE and Company guidelines.
4Ms. Calaway will serve on the Corporate and Governance Committee and the Management Development and Compensation Committee.
5Her compensation will align with the Company's standard arrangements for non-employee directors.
6No undisclosed related-party transactions or specific arrangements for her election were noted.

Air Products & Chemicals, Inc. 8-K Report, Executive Changes (Feb 22, 2022)

Summary

Key Highlights

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