Finance
Norges Bank votes for activist's four candidates in Air Products board fight
Published by Global Banking & Finance Review®
Posted on January 21, 2025
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 21, 2025
1 min readLast updated: January 27, 2026
Norges Bank will vote for Mantle Ridge's board nominees at Air Products, opposing current leaders. The vote reflects their 1.55% stake interest.
NEW YORK (Reuters) - Norway's sovereign wealth fund, one of Air Products and Chemicals' 10 biggest investors, said it will vote for all four of activist investor Mantle Ridge's director candidates to join the industrial gases company's board.
Norges Bank Investment Management said on its website that it will back all dissident nominees and vote against four of Air Products' board members, including chief executive Seifi Ghasemi and lead director Edward Monser at the Jan. 23 annual meeting. It did not offer an explanation for its decision.
The investor owned a 1.55% stake in Air Products at the end of June, according to LSEG data.
(Reporting by Svea Herbst-Bayliss; Editing by Chizu Nomiyama)
Norges Bank Investment Management announced it will vote for all four of Mantle Ridge's director candidates and against four existing board members.
As of the end of June, Norges Bank owned a 1.55% stake in Air Products, making it one of the company's largest investors.
Norges Bank plans to vote against four board members, including chief executive Seifi Ghasemi and the lead director.
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