Seifi Ghasemi is officially out as Air Products CEO, parting ways with the Lehigh Valley industrial gas giant after more than 10 years, unable to escape pressure from activist investors who sought

Industrial gases manufacturer Air Products said on Tuesday it has named former Linde executive Eduardo Menezes as its CEO and will succeed Seifi Ghasemi effective Feb. 7, amid pressure from activist investors.

Seifi Ghasemi is out as the CEO of Air Products and Chemicals less than 2 weeks after losing control of the board at the industrial gas firm’s annual shareholder meeting. The new board named Eduardo F. Menezes CEO, effective today.

Air Products appoints Eduardo Menezes as its new CEO effective February 7, succeeding Seifi Ghasemi, who is leaving the company after more than 10 years of service.

Air Products boss, Seifi Ghasemi has been ousted as Chair of the US industrial gas major after its shareholders elected board nominees from activist investor Mantle Ridge, but he will remain CEO for now.

Mantle Ridge has been pushing for changes at Air Products, including the replacement of Seifi Ghasemi as chairman and CEO and improvements to the company’s strategy and capital allocation.

The United States is having a senior moment. As the country’s oldest president, at age 82, is followed by the second-oldest, an octogenarian