Shaw revealed on Thursday it had amassed a roughly $1 billion stake in industrial gas giant Air Products and Chemicals, the second activist stake at the $71 billion company. Shaw, is seeking a clear succession plan for Air Product's CEO, 80-year-old Seifi Ghasemi. Shaw also took aim at how Air Products has structured some of its largest deals. Shaw said in its presentation to Air Products' board that the company has begun significant hydrogen projects costing many billions of dollars, without any guaranteed cash flow. Air Products declined to comment on either activist engagement.

---

Persons: Shaw, Paul Hilal's, Mantle, Ghasemi, Scott Sutton, Olin, D.E, Hilal's, Linde Organizations: Air Products, Chemicals, Air Product's, D.E, Products