Air Products (NYSE:APD) today announced that Executive Vice President and Chief Financial Officer (CFO) Scott Crocco plans to retire on September 30, 2021 following a distinguished, 31-year career with the Company and that Melissa Schaeffer will succeed him as Senior Vice President and CFO on August 10, 2021.
The transition will see Schaeffer assuming leadership responsibility for various aspects of Air Products’ worldwide financial organization―including Controllership, Accounting, Treasury, Tax, Audit, and Shared Business Services. Schaeffer will report to Air Products’ Chairman, President and Chief Executive Officer Seifi Ghasemi.
Commenting on the transition, Ghasemi said, “Looking back over the past seven years of my tenure at Air Products, it is easy to see the deep and lasting impact Scott has had in driving Air Products to become the most profitable industrial gas company in the world. It has been a privilege to work alongside him each day, with his relentless focus on creating value for our shareholders through strong cash flows, strategic capital deployment, and consecutive dividend increases. Most recently, he has led our efforts to position the financing in readiness for the successful closing of the Jazan gasification and power project. Scott’s broader journey over more than three decades with Air Products, which started with him as a participant in the Career Development Program, shows that the opportunities for talented, motivated and committed individuals are limitless at Air Products.
“Now, as Air Products continues to pursue and win significant growth opportunities around the world, I am delighted Melissa is transitioning into the role. She brings tremendous leadership skills; deep, global experience across various aspects of Finance and business; and most importantly, a passion to be the best and to help everyone reach their full potential. I am confident she is the right person with the right skills to continue moving Air Products forward as the global leader providing solutions to the world’s most significant energy and environmental challenges,” Ghasemi added.
Schaeffer joined Air Products in June 2016 as vice president, chief audit executive, responsible for leading the Company’s Audit team, executing proactive compliance monitoring activities, leading investigations, and the Sarbanes Oxley (SOX) compliance program. In 2020, she was appointed vice president, Finance—GEMTE, Americas, Middle East, and India. This role includes financial responsibility for the Americas, the Company’s largest reporting segment, and accountability for financial controllership, financial planning, and analysis-based decision support of the Technology, Engineering, Project Execution, Procurement, Manufacturing, Construction and Start-up functions, as well as Equipment Sales and Plant Support, Liquefied Natural Gas technology and equipment, PRISM® Membrane Systems, Gardner Cryogenics and Rotoflow businesses.
Prior to joining Air Products, Schaeffer held the position of global director, Internal Audit, at Trinseo. She was also employed for 10 years at Ernst & Young, and prior to that, was employed by Siemens, where she participated in a finance leadership development program. She holds a degree in Finance and Accounting from Indiana University and an MBA from Villanova University.