Northern Technologies International named a new chief executive officer alongside a broader shake-up of its leadership team, as its long-time CEO is stepping down.

The maker of anti-corrosion products on Tuesday named Gautam Ramdas as chief executive, succeeding G. Patrick Lynch.

Lynch, who has served as chief executive for 20 years, has been named chair of the board. He joined Northern Technologies in 1995, and became president in 2005, a year before he was named chief executive.

Lynch will succeed Richard Nigon, who has been appointed lead independent director.

Ramdas will join the board of directors as well. He has been with the company since 2005, and most recently served as vice president of the company's division Zerust Integrity Solutions. Before that, he was vice president and director of global market development for oil and gas.

The company also promoted Brian Haglund to chief operating officer. Haglund, who has been at Northern Technologies since 2018, was most recently vice president of operations for North America.

As part of the changes, Northern Technologies expanded its board from to nine from eight members. Lynch will remain as an employee for up to three years as part of the transition.

The company plans to pay a salary of $520,000 to Ramdas and $302,500 to Haglund. Lynch's salary will go down to $150,000, with continued benefits and a severance of $667,000 payable upon termination of his employment for any reason.