LSB Industries to Establish New Position of President of Its LSB Chemical Business; Retains Spencer Stuart to Execute Search
By Business Wire News
By Business Wire News
OKLAHOMA CITY, Okla.
LSB Industries, Inc. (NYSE:LXU) (“LSB or “the Company”), a leading producer of chemical products for the agricultural, mining and industrial markets and a manufacturer of commercial and residential climate control products, today announced that it has retained Spencer Stuart, a prominent global executive search and consulting firm, to launch a search for a President of its LSB Chemical Business. This newly created position will be responsible for maximizing the operational performance of the Company’s Chemical Business by driving process, maintenance, safety and marketing best-practices throughout the organization.
Barry Golsen, President and CEO of LSB, stated, “Over the past several years, we’ve made significant enhancements to our chemical operations by adding new management in key corporate and plant-level positions, augmenting our engineering support and investing in technological and mechanical upgrades to our facilities. Additionally, we currently have major capital projects underway that will reduce our production costs, expand our capacity and improve our product mix. Hiring an experienced senior level executive to lead our Chemical Business is an important next step in taking the progress we’ve made to the next level in order to drive world class levels of on-stream time, production volume and safety across all of our chemical facilities. The individual we plan to hire will have a track record of success in managing multi-plant chemical operations, as well as a strong background in managing effective sales and marketing programs. We are pleased to be working with Spencer Stuart, one of the world’s leading executive search firms, to find the ideal candidate.”
The President of the Chemical Business will be a member of the Company’s senior management team.
About LSB Industries, Inc.
LSB is a manufacturing and marketing company. LSB’s principal business activities consist of the manufacture and sale of chemical products for the agricultural, mining, and industrial markets, and the manufacture and sale of commercial and residential climate control products, such as water source and geothermal heat pumps, hydronic fan coils, modular chillers, large custom air handlers and make-up air units.
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by use of the words “believes”, “expects”, “intends”, “anticipates”, “plans to”, “should”, “estimates”, “projects”, or similar expressions, including, without limitation, capital projects underway will reduce production costs, expand capacity and improve product mix, and the new senior executive for our Chemical Business is important in driving world class levels of on-stream time, production volume and safety across all of our Chemical facilities. Actual results may differ materially from the forward-looking statements as a result of various future events, including without limitation, the various factors described in the “Special Note Regarding Forward-Looking Statements,” and the “Risk Factors” contained in our most recent 10-K for the year ended December 31, 2014.These forward looking statements speak only as of the date of this press release, and LSB expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in LSB’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Important Additional Information
LSB, its directors and certain of its executive officers may be deemed to be participants in the solicitation of proxies from LSB stockholders in connection with the matters to be considered at LSB’s 2015 Annual Meeting of Stockholders, including the election of directors.LSB intends to file a preliminary and definitive proxy statement and accompanying white proxy card with the U.S. Securities and Exchange Commission (the “SEC”) in connection with any such solicitation of proxies from LSB stockholders.LSB STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ ANY SUCH PROXY STATEMENT AND OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.Information regarding the ownership of LSB’s directors and executive officers in LSB stock, restricted stock and options is included in their SEC filings on Forms 3, 4 and 5. More detailed information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with the SEC in connection with LSB’s 2015 Annual Meeting.Information can also be found in LSB’s Annual Report on Form 10-K for the year ended December 31, 2014, filed with the SEC on March 2, 2015.Stockholders will be able to obtain any proxy statement, any amendments or supplements to the proxy statement and other documents filed by LSB with the SEC for no charge at the SEC’s website at www.sec.gov.Copies will also be available at no charge at LSB’s website at www.lsbindustries.com or by contacting David M. Shear, General Counsel & Secretary at (405) 235-4546.
LSB Industries, Inc.
Tony M. Shelby, Chief Financial Officer
Mark Behrman, Senior Vice President, Corporate Development
The Equity Group Inc.
Fred Buonocore, 212-836-9607
Linda Latman, 212-836-9609