Flexsteel to Appoint Derek P. Schmidt as President and CEO - Seite 2

“Derek has been instrumental in the development and execution of the Company’s strategy over the last four years and has been a driver of organizational change and culture development. His experience both within and outside of Flexsteel uniquely equips him to take Flexsteel’s growth strategy forward,” states current Chief Executive Officer, Jerry Dittmer. “I have the utmost confidence in his leadership and abilities.”

Jerald K. Dittmer has announced his resignation from the position of Chief Executive Officer effective June 30, 2024, but has agreed to stay employed with the company as a Strategic Advisor to support and aid in a seamless transition with Mr. Schmidt before retiring from the Company and the Board of Directors on December 31, 2024.

“Mr. Dittmer’s legacy is that of significant business transformation and unwavering leadership through unprecedented times,” states Tom Levine, Board Chair. “I would like to thank him for his significant contributions to Flexsteel and his active participation in the execution of a strong succession plan with Mr. Schmidt. I am proud of the legacy Mr. Dittmer has built and am excited for what the future holds for Flexsteel under the leadership of Mr. Schmidt.”

About Flexsteel

Flexsteel Industries, Inc., and Subsidiaries (the “Company”) is one of the largest manufacturers, importers, and marketers of residential furniture products in the United States. Product offerings include a wide variety of furniture such as sofas, loveseats, chairs, reclining rocking chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture. A featured component in most of the upholstered furniture is a unique steel drop-in seat spring from which the name “Flexsteel” is derived. The Company distributes its products throughout the United States through its e-commerce channel and direct sales force.

For more information, visit our website at http://www.flexsteel.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240429252953/en/

The Flexsteel Industries Stock at the time of publication of the news with a raise of +3,78 % to 39,03USD on Nasdaq stock exchange (29. April 2024, 22:00 Uhr).