By Ed Frankl

 

Linde PLC on Monday appointed Sanjiv Lamba to succeed Steve Angel as chief executive, with Mr. Angel taking over from Wolfgang Reitzle as the multinational chemical company's new chairman.

Both appointments are effective March 1, 2022, the Guildford, England-based company said.

Mr. Lamba, a Linde veteran of more than 30 years, is the company's current chief operating officer, having been appointed in October 2020.

"Linde is exceptionally well-positioned to capitalize on profitable growth opportunities in several end markets, including electronics, healthcare and clean energy," Mr. Lamba said.

Mr. Angel has been Linde's CEO since October 2018, having led the merger of Linde and U.S.-based Praxair. He had been Praxair boss since 2007.

"I'm confident that under Sanjiv's leadership, Linde will maintain our high-performance culture, aggressively implement our new sustainability goals and leverage the many growth opportunities we have in front of us," Mr. Angel said.

Current chairman Mr. Reitzle is leaving Linde after nearly 20 years at the company. Separately, Linde's board elected as new directors former Siemens CEO Joe Kaeser and Alberto Weisser, the former boss of Bunge Ltd.

The company also added a sustainability committee, responsible for board oversight of policies related to greenhouse-gas reduction goals and decarbonization, such as clean hydrogen and carbon capture. In addition, the company declared a dividend of $1.06 per share for the fourth quarter, payable on Dec. 17.

Linde is due to report third-quarter earnings on Oct. 28.

 

Write to Ed Frankl at edward.frankl@dowjones.com

 

(END) Dow Jones Newswires

October 25, 2021 12:01 ET (16:01 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Linde (NYSE:LIN)
Historical Stock Chart
From Nov 2021 to Dec 2021 Click Here for more Linde Charts.
Linde (NYSE:LIN)
Historical Stock Chart
From Dec 2020 to Dec 2021 Click Here for more Linde Charts.