Flexsteel restructures executive team

Derek Schmidt named president, Michael Ressler named chief financial officer

DUBUQUE, Iowa — As part of an executive restructuring, Flexsteel has promoted Chief Operating Officer Derek Schmidt to president and also named him to the company’s board of directors.

The company has also appointed Vice President, Manufacturing Michael Ressler as chief financial officer, treasurer and secretary. He will retain oversight of Flexsteel’s manufacturing and procurement operations.

Derek Schmidt

Jerry Dittmer, previously president and chief executive officer, remains CEO.

Schmidt has been chief operating officer since May 2022 and before that also held the chief financial officer role for just over two years.

He came to the company from Cresent Electric Supply Co., where he was senior vice president and chief financial officer. Before that, he was with the HON Co. as vice president and general manager and division chief financial officer and vice president of finance. He also previously held executive-level finance roles at HNI Corp., Silgan Plastics,  MasterBrand Cabinets and General Mills.

Michael Ressler

“Flexsteel is fortunate to have an executive with Derek’s leadership capabilities,” Dittmer said. “Since joining the company in April 2020, his responsibilities have meaningfully expanded, and his promotion to president appropriately reflects his current leadership responsibility and the board’s confidence in his ability to lead the company’s future growth strategy.”

Ressler has been with the company 17 years, most recently as vice president of manufacturing. Before this, he was senior director of finance and director of finance for the company’s global supply chain. He also previously held other management roles including interim senior project manager and manager of corporate accounting.

“Mike’s leadership contributions have been instrumental in the company’s transformation over the past several years,” Schmidt said. “Mike has a strong track record of delivering results. I’m confident that his deep knowledge of Flexsteel and our industry combined with his extensive experience in finance and operations will enable him to make a profound impact as CFO on the company’s success in the years to come.”

Thomas Russell

Home News Now Editor-in-Chief Thomas Russell has covered the furniture industry for 25 years at various daily and weekly consumer and trade publications. He can be reached at tom@homenewsnow.com and at 336-508-4616.

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