LSB Industries, Inc. Appoints Diana M. Peninger as an Independent Member of the Board of Directors & Will Nominate Steven L. ...
March 10 2020 - 3:05PM
Business Wire
LSB Industries, Inc. (NYSE:LXU) (“LSB” or the “Company”)
announced that it has appointed Diana M. Peninger as an independent
member of the Board of Directors (the “Board”) of the Company
effective March 5, 2020. Ms. Peninger will stand for direct
election by shareholders for the first time at the annual meeting
of stockholders on May 14, 2020. In addition, the Board nominated
Steven L. Packebush to stand for election as a member of the Board
to replace Jack E. Golsen upon his retirement from the Board of
Directors at the 2020 Annual Meeting of Stockholders.
“We would like to thank Jack Golsen, the founder of our Company
and, until a few years ago, its long-time leader, for his tireless
service, unparalleled dedication and continued guidance since LSB’s
inception in 1968. His insight and counsel have provided a myriad
of invaluable contributions to the Company and the Oklahoma City
community over several decades,” said Mark Behrman, LSB’s President
and Chief Executive Officer. “We look forward to Jack’s continued
involvement with LSB as Chairman Emeritus.”
Ms. Peninger is a highly accomplished executive with a career
spanning 30 years in the global chemical sector. From 2007 through
2016, she held various roles within Celanese Corporation including,
Vice President, Acetyl Intermediates, a $2.3 billion global
commodity business portfolio, Vice President and General Manager,
EVA Performance Polymer Business serving the medical, adhesives,
solar and film industries and as Vice President General Manager for
Nutrinova Specialty Food Ingredients business. As Director of
Corporate Strategy and Business Development, she led the
initiatives to establish manufacturing locations in low cost
regions of China and Middle East. She is currently the CEO of
Geneva Lake Partners, an advisory firm working with middle market
private industrial companies. In addition, Ms. Peninger serves on
the board of Rogers Group, Inc. where she chairs the compensation
committee and is a member of the audit committee. Previously she
served as the Board Vice-Chair of the Committee of 200, a
non-profit organization comprised of influential women CEOs and
business executives.
Mr. Packebush is a founder and principal in Elevar Resources,
LLC, a company providing advisory and consulting services and
capital solutions for companies in the agriculture and energy
markets. Prior to Elevar Resources, Mr. Packebush worked at Koch
Industries, Inc. for over 30 years, retiring in March 2018. Until
his retirement, he was the president of Koch Ag & Energy
Solutions. Mr. Packebush currently serves on the EuroChem Group AG
Board of Directors, Wichita State University Board of Trustees,
Kansas State University Dean’s Agriculture Advisory Board, and The
Fundamental Learning Center Board of Directors. Previously he
served on the Board of Directors of Caribbean Nitrogen, Nitrogen
2000, KOCHPAC, and The Fertilizer Institute. He has also served on
The Fertilizer Institute’s executive Committee and the Koch
Industries’ Compliance and Ethics Committee.
“The accomplished and diverse backgrounds of Diana and Steve
will enable them to provide critical and valuable counsel to our
management team,” said Mr. Behrman “We believe their addition to
our Board will provide a fresh perspective and we look forward to
working with our new colleagues to continue creating value for
shareholders.”
About LSB Industries, Inc.
LSB Industries, Inc., headquartered in Oklahoma City, Oklahoma,
manufactures and sells chemical products for the agricultural,
mining, and industrial markets. The Company owns and operates
facilities in Cherokee, Alabama, El Dorado, Arkansas and Pryor,
Oklahoma, and operates a facility for a global chemical company in
Baytown, Texas. LSB’s products are sold through distributors and
directly to end customers throughout the United States. Additional
information about the Company can be found on its website at
www.lsbindustries.com.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements generally are
identifiable by use of the words “may,” “believe,” “expect,”
“intend,” “plan to,” “estimate,” “project” or similar expressions,
and include but are not limited to: performance improvement and
attaining targeted operating rates.
Investors are cautioned that such forward-looking statements are
not guarantees of future performance and involve risk and
uncertainties. Though we believe that expectations reflected in
such forward-looking statements are reasonable, we can give no
assurance that such expectation will prove to be correct. Actual
results may differ materially from the forward-looking statements
as a result of various factors. These and other risk factors are
discussed in the Company’s filings with the Securities and Exchange
Commission (SEC), including those set forth under “Risk Factors”
and “Special Note Regarding Forward-Looking Statements” in our Form
10-K for the year ended December 31, 2019 and, if applicable, our
Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K.
All forward-looking statements included in this press release are
expressly qualified in their entirety by such cautionary
statements. We expressly disclaim any obligation to update, amend
or clarify any forward-looking statement to reflect events, new
information or circumstances occurring after the date of this press
release except as required by applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20200310005915/en/
Company: Mark Behrman, President & CEO Cheryl
Maguire, Executive Vice President & CFO (405) 235-4546
Investors: The Equity Group Inc. Fred Buonocore, CFA
(212) 836-9607 Mike Gaudreau (212) 836-9620
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