Air Products has announced its management succession plan ahead of CEO's John P. Jones planned retirement in October.
The Board of Directors has appointed John E. McGlade, currently president and chief operating officer, to succeed Jones as CEO. McGlade has also been elected a director of the company effective immediately. Jones will continue as Chairman of the Board until March 31, 2008 to provide for an orderly transition of responsibilities.
Jones has been responsible for company operations since becoming president in 1998 and CEO and chairman in 2000. $quot;We have worked very hard since 2000 to ensure that Air Products has a strong portfolio of profitable growth businesses,$quot; he said. $quot;Healthy succession is a hallmark of a strong company. It has been a privilege to lead this company for nearly 10 years, and it is very satisfying to see the next generation ready to move up,$quot; said Jones.
His replacement McGlade added, $quot;I look forward to the opportunity to lead this dynamic company. Air Products is well positioned to continue its successful growth and build on the strong foundation put in place over the past decade by John Jones. I am committed to continuing to bring this value to our shareholders, customers, and employees.$quot;
Jones also shared his plans for retirement saying, $quot;After 35 years of working for this great company, I am looking forward to having more time to spend with my family. I will also continue my work with various corporate and non-profit boards.$quot; Jones serves on the boards of ADP, Sunoco, the Dorothy Rider Pool Health Care Trust, the Rider-Pool Foundation, and the Villanova Board of Trustees.