LSB Industries, Inc. Announces Changes to Its Board of Directors
November 15 2017 - 4:05PM
Business Wire
LSB Industries, Inc. (NYSE:LXU) (“LSB or “the Company”)
announced the resignation of Joseph Reece from its Board of
Directors effective today. Mr. Reece, who was previously the
Executive Vice Chairman of UBS Securities LLC (“UBS”), was recently
promoted by UBS to be the head of its Investment Bank – Corporate
Client Solutions Business for the Americas, a position which
requires a substantially increased time commitment from his
previous responsibilities. Accordingly, Mr. Reece has decided to
resign from the LSB Board. The vacancy will be filled, effective
immediately, by Jonathan Bobb, a former director of LSB’s Board and
member of the Corporate Investment team at Eldridge Industries, the
parent of Security Benefit Corporation. With these changes, the
size of LSB’s Board will remain at nine directors, of which six are
independent.
LSB’s President and CEO, Daniel Greenwell, stated, “I, along
with my fellow directors, would like to thank Joe for his
contributions to LSB over the past two years, and congratulate him
on his new position at UBS. We would also like to welcome Jonathan
back to our Board and look forward to working with him as we move
forward in our efforts to strengthen our operations and enhance our
financial position.”
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 Statement
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: enhanced reliability at our
Facilities; reducing costs; expanding into new markets; improving
liquidity; reducing leverage and completing repairs on time and as
estimated.
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 expectations 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, 2016 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 and 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: http://www.businesswire.com/news/home/20171115006413/en/
Company:LSB Industries, Inc.Mark Behrman,
405-235-4546Chief Financial OfficerorInvestor Relations:The
Equity Group Inc.Fred Buonocore, 212-836-9607orKevin Towle,
212-836-9620
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