Air Products Shares Drop After COO Departure
By Michael Susin
Air Products & Chemicals shares fell Monday after the group said its number-two executive will leave the company as part of a management realignment.
Shares at 10:20 a.m. ET were down 3% at 254.99.
The group said Samir Serhan resigned as chief operating officer effective immediately and will leave the company at the end of September.
Air Products said it has formed a senior management board led by its chairman and chief executive, Seifi Ghasemi, that includes nearly a dozen other executives from around the world who will report directly to Ghasemi.
The company said the move is aimed at bolstering its strategy of optimizing and growing its core industrial-gases business while advancing the global energy transition through clean hydrogen.
-- Colin Kellaher contributed to this article.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
July 22, 2024 10:57 ET (14:57 GMT)
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