Nov 18 (Reuters) - Air Products nominated two

new independent director candidates on Monday, intensifying

efforts to revamp its board amid investor pressure.

CONTEXT

The Pennsylvania-based company has nominated Bob Patel and

Alfred Stern, executives with experience leading major public

industrial firms like LyondellBasell and Austria's OMV

Group, for elections at the upcoming annual

shareholders meeting.

WHY IT'S IMPORTANT

The company faces mounting pressure from hedge fund managers

Mantle Ridge and D.E. Shaw, who have criticized Air Products'

share underperformance, senior leadership and capital allocation

policies. Both investors have urged board refreshment and a

focus on core business operations.

In a September letter, D.E. Shaw claimed that "the

company's clean hydrogen strategy led to the destruction of

roughly $15 billion of equity value within the core industrial

gas business."

SHARES

Shares rose about 1% in premarket trading.

KEY QUOTE

"With their (Patel and Stern) addition, the Board will

continue to be well-positioned to oversee the Company through

its next phase of growth and execute on a successful leadership

succession." said Lead Director, Edward Monser.