diff --git a/pkg/operator/controller/ingress/controller.go b/pkg/operator/controller/ingress/controller.go
index 184f433fb..f513be3de 100644
--- a/pkg/operator/controller/ingress/controller.go
+++ b/pkg/operator/controller/ingress/controller.go
@@ -483,7 +483,12 @@ func setDefaultPublishingStrategy(ic *operatorv1.IngressController, platformStat
 		}
 
 		// Set provider parameters based on the cluster ingress config.
-		setDefaultProviderParameters(effectiveStrategy.LoadBalancer, ingressConfig, alreadyAdmitted)
+		var currentLBStrategy *operatorv1.LoadBalancerStrategy
+		if ic.Status.EndpointPublishingStrategy != nil {
+			currentLBStrategy = ic.Status.EndpointPublishingStrategy.LoadBalancer
+		}
+		effectiveLBStrategy := effectiveStrategy.LoadBalancer
+		setDefaultProviderParameters(effectiveLBStrategy, currentLBStrategy, ingressConfig, alreadyAdmitted)
 
 	case operatorv1.NodePortServiceStrategyType:
 		if effectiveStrategy.NodePort == nil {
@@ -698,13 +703,14 @@ func setDefaultPublishingStrategy(ic *operatorv1.IngressController, platformStat
 	return false
 }
 
-// setDefaultProviderParameters mutates the given LoadBalancerStrategy by
+// setDefaultProviderParameters mutates the given effective LoadBalancerStrategy by
 // defaulting its ProviderParameters field based on the defaults in the provided
-// ingress config object.
-func setDefaultProviderParameters(lbs *operatorv1.LoadBalancerStrategy, ingressConfig *configv1.Ingress, alreadyAdmitted bool) {
+// ingress config object if it hasn't been admitted yet. If already admitted, it
+// bases the effective LoadBalancerStrategy on the current LoadBalancerStrategy.
+func setDefaultProviderParameters(lbsEffective, lbsCurrent *operatorv1.LoadBalancerStrategy, ingressConfig *configv1.Ingress, alreadyAdmitted bool) {
 	var provider operatorv1.LoadBalancerProviderType
-	if lbs.ProviderParameters != nil {
-		provider = lbs.ProviderParameters.Type
+	if lbsEffective.ProviderParameters != nil {
+		provider = lbsEffective.ProviderParameters.Type
 	}
 	if len(provider) == 0 && !alreadyAdmitted {
 		// Infer the LB type from the cluster ingress config, but only
@@ -716,56 +722,56 @@ func setDefaultProviderParameters(lbs *operatorv1.LoadBalancerStrategy, ingressC
 	}
 	switch provider {
 	case operatorv1.AWSLoadBalancerProvider:
-		if lbs.ProviderParameters == nil {
-			lbs.ProviderParameters = &operatorv1.ProviderLoadBalancerParameters{}
+		if lbsEffective.ProviderParameters == nil {
+			lbsEffective.ProviderParameters = &operatorv1.ProviderLoadBalancerParameters{}
 		}
-		lbs.ProviderParameters.Type = provider
+		lbsEffective.ProviderParameters.Type = provider
 		defaultLBType := operatorv1.AWSClassicLoadBalancer
-		if p := ingressConfig.Spec.LoadBalancer.Platform; !alreadyAdmitted && p.Type == configv1.AWSPlatformType && p.AWS != nil {
-			if p.AWS.Type == configv1.NLB {
-				defaultLBType = operatorv1.AWSNetworkLoadBalancer
-			}
+		if alreadyAdmitted {
+			defaultLBType = lbsCurrent.ProviderParameters.AWS.Type
+		} else if p := ingressConfig.Spec.LoadBalancer.Platform; p.Type == configv1.AWSPlatformType && p.AWS != nil && p.AWS.Type == configv1.NLB {
+			defaultLBType = operatorv1.AWSNetworkLoadBalancer
 		}
-		if lbs.ProviderParameters.AWS == nil {
-			lbs.ProviderParameters.AWS = &operatorv1.AWSLoadBalancerParameters{}
+		if lbsEffective.ProviderParameters.AWS == nil {
+			lbsEffective.ProviderParameters.AWS = &operatorv1.AWSLoadBalancerParameters{}
 		}
-		if len(lbs.ProviderParameters.AWS.Type) == 0 {
-			lbs.ProviderParameters.AWS.Type = defaultLBType
+		if len(lbsEffective.ProviderParameters.AWS.Type) == 0 {
+			lbsEffective.ProviderParameters.AWS.Type = defaultLBType
 		}
-		switch lbs.ProviderParameters.AWS.Type {
+		switch lbsEffective.ProviderParameters.AWS.Type {
 		case operatorv1.AWSClassicLoadBalancer:
-			if lbs.ProviderParameters.AWS.ClassicLoadBalancerParameters == nil {
-				lbs.ProviderParameters.AWS.ClassicLoadBalancerParameters = &operatorv1.AWSClassicLoadBalancerParameters{}
+			if lbsEffective.ProviderParameters.AWS.ClassicLoadBalancerParameters == nil {
+				lbsEffective.ProviderParameters.AWS.ClassicLoadBalancerParameters = &operatorv1.AWSClassicLoadBalancerParameters{}
 			}
 		case operatorv1.AWSNetworkLoadBalancer:
-			if lbs.ProviderParameters.AWS.NetworkLoadBalancerParameters == nil {
-				lbs.ProviderParameters.AWS.NetworkLoadBalancerParameters = &operatorv1.AWSNetworkLoadBalancerParameters{}
+			if lbsEffective.ProviderParameters.AWS.NetworkLoadBalancerParameters == nil {
+				lbsEffective.ProviderParameters.AWS.NetworkLoadBalancerParameters = &operatorv1.AWSNetworkLoadBalancerParameters{}
 			}
 		}
 
 	case operatorv1.GCPLoadBalancerProvider:
-		if lbs.ProviderParameters == nil {
-			lbs.ProviderParameters = &operatorv1.ProviderLoadBalancerParameters{}
+		if lbsEffective.ProviderParameters == nil {
+			lbsEffective.ProviderParameters = &operatorv1.ProviderLoadBalancerParameters{}
 		}
-		lbs.ProviderParameters.Type = provider
-		if lbs.ProviderParameters.GCP == nil {
-			lbs.ProviderParameters.GCP = &operatorv1.GCPLoadBalancerParameters{}
+		lbsEffective.ProviderParameters.Type = provider
+		if lbsEffective.ProviderParameters.GCP == nil {
+			lbsEffective.ProviderParameters.GCP = &operatorv1.GCPLoadBalancerParameters{}
 		}
 	case operatorv1.IBMLoadBalancerProvider:
-		if lbs.ProviderParameters == nil {
-			lbs.ProviderParameters = &operatorv1.ProviderLoadBalancerParameters{}
+		if lbsEffective.ProviderParameters == nil {
+			lbsEffective.ProviderParameters = &operatorv1.ProviderLoadBalancerParameters{}
 		}
-		lbs.ProviderParameters.Type = provider
-		if lbs.ProviderParameters.IBM == nil {
-			lbs.ProviderParameters.IBM = &operatorv1.IBMLoadBalancerParameters{}
+		lbsEffective.ProviderParameters.Type = provider
+		if lbsEffective.ProviderParameters.IBM == nil {
+			lbsEffective.ProviderParameters.IBM = &operatorv1.IBMLoadBalancerParameters{}
 		}
 	case operatorv1.OpenStackLoadBalancerProvider:
-		if lbs.ProviderParameters == nil {
-			lbs.ProviderParameters = &operatorv1.ProviderLoadBalancerParameters{}
+		if lbsEffective.ProviderParameters == nil {
+			lbsEffective.ProviderParameters = &operatorv1.ProviderLoadBalancerParameters{}
 		}
-		lbs.ProviderParameters.Type = provider
-		if lbs.ProviderParameters.OpenStack == nil {
-			lbs.ProviderParameters.OpenStack = &operatorv1.OpenStackLoadBalancerParameters{}
+		lbsEffective.ProviderParameters.Type = provider
+		if lbsEffective.ProviderParameters.OpenStack == nil {
+			lbsEffective.ProviderParameters.OpenStack = &operatorv1.OpenStackLoadBalancerParameters{}
 		}
 	}
 }
diff --git a/pkg/operator/controller/ingress/controller_test.go b/pkg/operator/controller/ingress/controller_test.go
index 530de3071..5bd4d4175 100644
--- a/pkg/operator/controller/ingress/controller_test.go
+++ b/pkg/operator/controller/ingress/controller_test.go
@@ -413,6 +413,14 @@ func TestSetDefaultPublishingStrategyHandlesUpdates(t *testing.T) {
 			}
 			return lbs
 		}
+		// providerParameters.type is set, but providerParameters.<platform> is not.
+		lbsWithEmptyPlatformParameters = func(providerType operatorv1.LoadBalancerProviderType) *operatorv1.LoadBalancerStrategy {
+			lbsWithEmptyPP := lbs(operatorv1.ExternalLoadBalancer, &managedDNS)
+			lbsWithEmptyPP.ProviderParameters = &operatorv1.ProviderLoadBalancerParameters{
+				Type: providerType,
+			}
+			return lbsWithEmptyPP
+		}
 		eps = func(lbs *operatorv1.LoadBalancerStrategy) *operatorv1.EndpointPublishingStrategy {
 			return &operatorv1.EndpointPublishingStrategy{
 				Type:         operatorv1.LoadBalancerServiceStrategyType,
@@ -662,6 +670,14 @@ func TestSetDefaultPublishingStrategyHandlesUpdates(t *testing.T) {
 			expectedIC:              makeIC(spec(eps(lbs(operatorv1.ExternalLoadBalancer, &managedDNS))), status(nlb())),
 			domainMatchesBaseDomain: true,
 		},
+		{
+			name:                    "loadbalancer type with empty platform parameters changed from NLB to unset, with NLB as default (OCPBUGS-43692)",
+			ic:                      makeIC(spec(eps(lbsWithEmptyPlatformParameters(operatorv1.AWSLoadBalancerProvider))), status(nlb())),
+			ingressConfig:           ingressConfigWithDefaultNLB,
+			expectedResult:          false,
+			expectedIC:              makeIC(spec(eps(lbsWithEmptyPlatformParameters(operatorv1.AWSLoadBalancerProvider))), status(nlbWithNullParameters())),
+			domainMatchesBaseDomain: true,
+		},
 		{
 			name:                    "loadbalancer ELB connection idle timeout changed from unset with null provider parameters to 2m",
 			ic:                      makeIC(spec(elbWithIdleTimeout(metav1.Duration{Duration: 2 * time.Minute})), status(elbWithNullParameters())),
@@ -704,6 +720,13 @@ func TestSetDefaultPublishingStrategyHandlesUpdates(t *testing.T) {
 			expectedIC:              makeIC(spec(gcpLB(operatorv1.GCPLocalAccess)), status(gcpLB(operatorv1.GCPLocalAccess))),
 			domainMatchesBaseDomain: true,
 		},
+		{
+			name:                    "loadbalancer GCP Global Access with empty platform provider parameters changed from global to unset (OCPBUGS-43692)",
+			ic:                      makeIC(spec(eps(lbsWithEmptyPlatformParameters(operatorv1.GCPLoadBalancerProvider))), status(gcpLB(operatorv1.GCPGlobalAccess))),
+			expectedResult:          true,
+			expectedIC:              makeIC(spec(eps(lbsWithEmptyPlatformParameters(operatorv1.GCPLoadBalancerProvider))), status(gcpLB(""))),
+			domainMatchesBaseDomain: true,
+		},
 		{
 			name:                    "loadbalancer IBM Protocol changed from unset to PROXY",
 			ic:                      makeIC(spec(ibmLB(operatorv1.ProxyProtocol)), status(eps(lbs(operatorv1.ExternalLoadBalancer, &managedDNS)))),
@@ -725,6 +748,13 @@ func TestSetDefaultPublishingStrategyHandlesUpdates(t *testing.T) {
 			expectedIC:              makeIC(spec(ibmLB(operatorv1.TCPProtocol)), status(ibmLB(operatorv1.TCPProtocol))),
 			domainMatchesBaseDomain: true,
 		},
+		{
+			name:                    "loadbalancer IBM Protocol with empty platlform parameters changed from PROXY to TCP",
+			ic:                      makeIC(spec(eps(lbsWithEmptyPlatformParameters(operatorv1.IBMLoadBalancerProvider))), status(ibmLB(operatorv1.ProxyProtocol))),
+			expectedResult:          true,
+			expectedIC:              makeIC(spec(eps(lbsWithEmptyPlatformParameters(operatorv1.IBMLoadBalancerProvider))), status(ibmLB(""))),
+			domainMatchesBaseDomain: true,
+		},
 		{
 			// https://bugzilla.redhat.com/show_bug.cgi?id=1997226
 			name:                    "nodeport protocol changed to PROXY with null status.endpointPublishingStrategy.nodePort",