John C. van Roden, Jr. Named Chairman of Airgas Board of Directors
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259 No. Radnor-Chester Rd.
Radnor, PA, 19087
Press release date: September 23, 2010
Peter McCausland Reappointed as Airgas Director
RADNOR, PA - September 23, 2010 - Airgas, Inc. (NYSE: ARG) today announced that the Company's Board of Directors has unanimously appointed John C. van Roden, Jr. to serve as Chairman. Mr. van Roden has served as an Airgas director since October 2006 and brings over 20 years of experience in strategic and financial management from his senior leadership positions at P.H. Glatfelter, Conectiv and Lukens.
The Company also announced that the independent directors of the Board have unanimously reappointed Peter McCausland, Airgas' Chief Executive Officer, to serve as a director of the Company.
Separately, IVS Associates, Inc., the independent Inspector of Elections, certified the results of the stockholder vote at Airgas' 2010 Annual Meeting. Accordingly, John P. Clancey, Robert L. Lumpkins and Ted B. Miller, Jr. have joined the Airgas Board of Directors.
The Inspector of Elections' certified results show that less than 50% of all outstanding shares, but a slight majority of votes cast, voted in favor of Air Products' By-Law Amendment proposal to require that a Meeting of Stockholders be held on January 18, 2011. Airgas continues to believe that the January proposal is invalid under both Delaware law and Airgas' Certificate of Incorporation. The Company also believes that the proposal has not been approved because it received the affirmative vote of less than 67% of the shares entitled to vote. Airgas has filed suit in the Delaware Chancery Court to invalidate the proposed By-Law Amendment.
BofA Merrill Lynch and Goldman, Sachs & Co. are serving as financial advisors, and Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Airgas and its Board of Directors.
About Airgas, Inc.
Airgas, Inc. (NYSE: ARG), through its subsidiaries, is the largest U.S. distributor of industrial, medical, and specialty gases, and hardgoods, such as welding equipment and supplies. Airgas is also one of the largest U.S. distributors of safety products, the largest U.S. producer of nitrous oxide and dry ice, the largest liquid carbon dioxide producer in the Southeast, and a leading distributor of process chemicals, refrigerants, and ammonia products. More than 14,000 employees work in approximately 1,100 locations, including branches, retail stores, gas fill plants, specialty gas labs, production facilities and distribution centers. Airgas also distributes its products and services through eBusiness, catalog and telesales channels. Its national scale and strong local presence offer a competitive edge to its diversified customer base. For more information, please visit www.airgas.com.
Joele Frank / Dan Katcher / James Golden
Wilkinson Brimmer Katcher