Houston-based chemical co. splits chairman and CEO role, adds Paul Hobby to board

Houston-based Flotek Industries Inc. (NYSE: FTK), which makes chemicals used by the energy industry, made some changes to its board of directors this week.

The changes are part of an agreement Flotek reached with BLR Partners LP and certain affiliates, which hold a roughly 2.8 percent stake in the company, according to a filing with the U.S. Securities and Exchange Commission.

First, Flotek will separate the role of chairman and CEO, effective at the company’s 2019 annual meeting. John Chisholm…

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