DUBUQUE, Iowa — Flexsteel Inds. has appointed Derek P. Schmidt as president and CEO, effective July 1. He will succeed Jerry Dittmer, who has announced his resignation as CEO effective June 30 and retirement from Flexsteel on Dec. 31.

Schmidt joined Flexsteel as CFO and COO in April 2020 and was subsequently appointed secretary and treasurer in May 2020. In June 2022, his role expanded to take on additional responsibilities and strategic ownership of manufacturing, sourcing and procurement, logistics and distribution, and product management and development.

In January 2023, his responsibilities further expanded to include oversight for the sales and marketing functions. In January 2024,  Schmidt was promoted to the position of president and appointed a member of the Board of Directors.

Schmidt has almost 30 years of broad general management and financial leadership experience, including 11 years in the furniture industry. Prior to Flexsteel, he was the CFO of Crescent Electric Supply Co. He previously held executive positions with HNI, Silgan Plastics Corp., MasterBrand Cabinets and General Mills.

“Derek has been instrumental in the development and execution of the company’s strategy over the past four years and has been a driver of organizational change and culture development,” said Dittmer. “His experience both within and outside of Flexsteel uniquely equips him to take Flexsteel’s growth strategy forward.”

Dittmer has agreed to stay employed with the company after stepping down as CEO, to support and aid in a seamless transition with  Schmidt before retiring from the company and the board at the end of 2024.

“Mr. Dittmer’s legacy is that of significant business transformation and unwavering leadership through unprecedented times,” said 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.”

See also:

• Flexsteel offers insight on recent growth, outlines 3 ways it’s boosting profits
• 3 industry execs chosen as Spirit of Life honorees

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