Ronald J. Klosterman has announced his plans to retire as president and CEO of Dubuque, Iowa-based furniture supplier Flexsteel Industries Inc. prior to the end of 2012.
According to a news release, Klosterman, who has been with Flexsteel for nearly 40 years, succeeded K. Bruce Lauritsen as president and CEO in 2006.
“Flexsteel has been fortunate to have an executive of the caliber of Ron Klosterman,” 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 within the company and the furniture industry demonstrating confidence in and conviction to our company. We will benefit from his guidance in his continuing role as a director.”
Boylen said that the board has formed a search committee and will retain an executive search firm to identify candidates to succeed Klosterman.
Klosterman began his career with Flexsteel as a staff accountant, was promoted to manager of corporate accounting and audit, then served as general manager of the company’s Dublin, Ga., production facility. He held positions as treasurer, president, CFO and COO before becoming president and CEO. He was appointed to the board in 2005.
“Today’s announcement is an important milestone in our succession planning process that will position the company for a smooth leadership transition,” Klosterman said. “It has been, and continues to be, a privilege to lead this tremendous company.”