DUBUQUE, Iowa – Flexsteel Industries President Derek Schmidt will also take over as CEO effective July 1. He succeeds Jerald Dittmer, who is resigning as CEO effective June 30, and retiring from Flexsteel on Dec. 31. Schmidt was promoted to president of the large residential furniture manufacturer  in January.

Schmidt joined Flexsteel as CFO and COO in April 2020 and was appointed secretary and treasurer in May 2020. In June 2022, his role as COO expanded to include the strategic ownership of manufacturing, sourcing and procurement, logistics and distribution, and product management and development. In January 2023, his responsibilities expanded to include oversight for the sales and marketing functions. 

“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,” Dittmer stated. “I have the utmost confidence in his leadership and abilities.”

Prior to Flexsteel, Schmidt was CFO of Crescent Electric Supply Co., and held multiple executive positions with HNI Corp. and financial leadership positions with Silgan Plastics Corp., MasterBrand Cabinets, Inc., and General Mills Inc. He is a graduate of the University of Wisconsin with a Bachelor of Business Administration degree in Accounting and Finance. He also earned a Master of Business Administration with an emphasis in finance and strategic management from the University of Minnesota Carlson School of Management.

To support and aid in the transition process, Dittmer will serve as a strategic advisor until he retires at the end of the year.

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

Headquartered in Dubuque, Iowa, Flexsteel is one of the nation's largest manufacturers and importers of residential furniture and is ranked in #37 in the FDMC 300. Product offerings include 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.