Rockwood’s Ghasemi To Lead Air Products

Seifi Ghasemi, 69, has been named CEO of Air Products & Chemicals effective July 1, succeeding John E. McGlade, 59, who is retiring under pressure from activist investor William A. Ackman. Currently CEO of Rockwood Holdings, Ghasemi was named to the Air Products board in September 2013 at the behest of Ackman, head of Pershing Square Capital Management, which owns nearly 10% of the industrial gas firm’s shares. Ghasemi has been CEO of Rockwood for 13 years. Earlier in his career, Ghasemi spent 18 years at industrial gases firm BOC, now part of Linde, where he had been president of BOC Gases Americas. At Rockwood, Chief Financial Officer Robert J. Zatta will take on the additional role of acting CEO.