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From Home Furnishing Business

Flexsteel’s CEO Retires, Interim President Appointed

Case goods and upholstery resource Flexsteel Inds. (NASDAQ: FLXS) has announced the retirement of Karel Czanderna from her roles as president and CEO, effective Sept. 9.

The decision was not the result of any dispute or disagreement with the company or any matter related to the company’s operations, policies, practices, management or board of directors.

Jeff Bertsch, a current board member and Flexsteel’s former SVP of corporate services has been appointed interim president. Bertsch will report to an executive committee of the board, which will also help support the management of the company during this interim period until a new president and CEO is appointed.

The executive committee is chaired by Tom Levine and includes fellow board members: Mary Bottie, Michael Edwards, and Nancy Uridil. The board has commenced a search for a permanent president and CEO with the assistance of a national executive search firm.

“The board is appreciative of Karel’s contributions to Flexsteel during her over six years of service,” said Eric Rangen, chairman of the board. “During her tenure, Karel has overseen a number of significant advancements to Flexsteel’s infrastructure and organization. The board thanks Karel for the many contributions she made to Flexsteel.”

Rangen further commented, “With his over 35 years of involvement with the company, Jeff Bertsch is taking on the role of interim president with the support of a strong Flexsteel senior management team, that will continue to focus on Flexsteel’s growth as one of this country’s largest furniture companies.”

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