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Air Products nabs Rockwood's Seifi Ghasemi as new CEO

  • Air Products (APD+7.3% premarket after naming Rockwood Holdings (ROC) chairman and CEO Seifi Ghasemi as its new chairman, president and CEO, effective July 1.
  • ROC appoints CFO Robert Zatta as acting CEO, and says its board will begin a search process for a permanent CEO; Ghasemi, who has led ROC since 2001, will remain chairman until Jan. 1, then continue as a director.
  • APD has been under pressure from Bill Ackman's Pershing Square - APD's largest shareholder, with a 9.7% stake - to overhaul its management.
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