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Ghasemi leaves strong if complex financial legacy

Gas
February 4, 2025

Air Products’ EBITDA margin graph over the last decade is in many ways a metaphor for Seifi Ghasemi’s up-and-down career.

If we leave to one side, and look at the margin when he took over as CEO in 2014, it hovered around the 25-27% range. Thereafter the company enjoyed sharp growth for the next year, to Q2 2016, before it plateaued in the 33-36% range.

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