Air Products nabs Rockwood's Seifi Ghasemi as new CEO

|About: Air Products and Chemicals,... (APD)|By:, SA News Editor

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.