LSB Industries Inc., Oklahoma City, reports that on March 7 board members Mark T. Behrman and Jack E. Golsen exchanged classes of directorships to which they are appointed. As a result, Behrman’s term now expires at the 2019 Annual Meeting, instead of in 2020. Golsen’s expires in 2020, instead of 2019. Behrman continues to serve as the company’s President and CEO, while Golsen remains Chairman Emeritus.
LSB explained that Golsen had expressed to the board his inability to commit to serving another full three-year term if reelected, and has asked the board to review his tenure annually. The board determined that it is in the best interests of the company for Golsen to continue serving on the board for at least another year, with which he agreed. The exchanging of classes between Behrman and Golsen allowed Golsen’s services for at least another year. Behrman will be nominated for reelection to a three-year term at the 2019 meeting.