LSB Industries Inc. said Sept. 3 that Barry Golsen has stepped down as president and CEO, effective immediately. He will remain as a director of the company. A transition of leadership has been in the works for a while, as activist shareholders have sought changes at the company.
Daniel Greenwell, lead independent director, has been named interim CEO. He has been on the LSB board since 2014 and serves as chairman of the Audit Committee and a member of the Strategic Committee.
The board has plans to initiate a formal search process to identify a permanent president and CEO. The board intends to retain an executive search firm to assist in the search.
Greenwell gives up his spot on the Audit Committee and as lead independent director, though he will remain on the board. Current Directors William Murdy and Richard Roedel have been elected as lead independent director and Audit Committee chairman, respectively.