KLX Energy clarifies Cross Ocean, Whitebox designate new directors under backstop agreement
KLXE•KLX Energy Services clarified that directors appointed October 29 were designated by Cross Ocean Partners and Whitebox Advisors under an August 6 backstop agreement.
1. Director designations
KLX Energy Services said on November 4 that independent directors Franklin S. Edmonds, Jr. and E. Dirk Hallen, appointed October 29, were designated by Cross Ocean Partners and Whitebox Advisors, respectively. The August 6 agreement entitles each firm to designate one director, subject to nominating committee review; KLX said no other arrangements or understandings governed the appointments.
