LSI Industries Inc. announced that its board of directors appointed Ronald D. Brown as interim chief executive officer and Crawford Lipsey as interim
president and chief operating officer effective immediately. The hiring of Brown and Lipsey follows the departure of Dennis W. Wells as president and chief executive officer on April 23, 2018. They will report to John Morgan, a member of LSI's board of directors who will serve as managing director during the transition. The board has initiated a search to identify a permanent replacement for Wells. Brown most recently served as Vice Chairman of The Armor Group. He is the retired chairman and chief executive officer of Milacron Inc. Brown serves on the Board of Directors of A.O. Smith Corporation and James Advantage Funds Trust and serves on the University of Cincinnati Board of Trustees. Lipsey worked for several years in the lighting and electrical industry prior to serving for ten years at Acuity Brands Lighting, including as executive vice president for an Acuity division reporting $500 million in annual revenue.
LSI Industries Inc. is a producer of non-residential lighting and retail display solutions. The Company operates through two segments: Lighting and Display Solutions. The Lighting Segment manufactures, markets, and sells outdoor and indoor lighting fixtures and control solutions in the vertical markets: refueling and convenience store, parking lot and garage, quick-service restaurant, retail, grocery and pharmacy, automotive dealership, sports court and field, and warehouse. It services these markets through multiple channels: project business sold through electrical distributors and agents and shipped directly to the customer; standard products sold to and stocked by distributors, and direct to end-use customers. The Display Solutions Segment also manufactures, sells and installs exterior and interior visual image and display elements, including printed graphics, structural graphics, digital signage, menu board systems, refrigerated displays, and custom display elements.
