Furniture supplier Flexsteel Industries Inc. today (Nov. 10) announced that Ronald J. Klosterman will be promoted to CEO, effective Dec. 31, replacing K. Bruce Lauritsen as part of the company’s succession plan.
Flexsteel said Lauritsen will continue in his present capacity as vice chairman of the board and chairman of the company’s executive committee.
Klosterman started with Flexsteel in 1972 as a staff accountant before holding several executive positions including treasurer and CFO. Currently, Klosterman is president and COO of the Dubuque, Iowa-based company.
“Flexsteel is fortunate to have an executive of the caliber of Ron Klosterman to succeed Bruce as chief executive officer,” said Chairman L. Bruce Boylen. “Ron has been entrenched in every aspect of Flexsteel’s operations, including finance, manufacturing and marketing. He has gained tremendous respect both inside and outside the company demonstrating confidence in and conviction to our company.”
Lauritsen joined Flexsteel in 1968 as a sales representative and has progressed through the ranks, serving as national sales manager, COO, president and CEO.
“I’d like to thank Bruce for his 38 years of leadership and his demonstrated ability to see the company through the global changes and challenges of the recent years,” Boylen said. “His passion for the company and all of its employees will continue to inspire all of us.”