LSB Industries, Inc. announced that it has appointed Diana M. Peninger as an independent member of the Board of Directors of the company effective March 5.
The company operates a chemical plant in El Dorado.
Peninger will stand for direct election by shareholders for the first time at the annual meeting of stockholders on May 14. 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.”
Peninger has 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 and 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, Peninger serves on the board of Rogers Group, Inc. where she chairs the compensation committee and is a member of the audit committee.
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, 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.
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.