The 2020 Mid-Year Economic Update_long

Airgas Reappoints CEO to Board

Passage of Air Products by-law amendment still being contested.

The Board of Directors for Airgas, Inc. (NYSE: ARG), Radnor, PA, reappointed CEO Peter McCausland to the board to serve as a director. The board also unanimously appointed John C. van Roden Jr. to serve as chairman.

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McCausland was ousted as a chairman and director by shareholder vote in a proxy battle instigated by the Air Products hostile takeover bid. Van Roden has served as an Airgas director since October 2006.

Certification of the shareholder vote results also showed that less than 50 percent of outstanding shares, but a majority of votes cast, voted in favor of Air Products’ by-law amendment proposal to move the Meeting of Stockholders to Jan. 18, 2011. Airgas is contesting the proposal in the Delaware Chancery Court.

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