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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) June 21, 2005
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FLEXSTEEL INDUSTRIES, INC.
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(Exact name of registrant as specified in its charter)
Minnesota 0-5151 42-0442319
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
3400 Jackson Street, Dubuque, Iowa 52001
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 563-556-7730
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(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
|_| Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events
On June 21, 2005, Flexsteel Industries, Inc. Aligns Management Team.
See the Press Release attached.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FLEXSTEEL INDUSTRIES, INC.
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(Registrant)
Date: June 21, 2005 By: /s/ Timothy E. Hall
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Timothy E. Hall
Vice President, CFO, and Treasurer
Principal Financial Officer
Exhibit 99.1
Flexsteel Aligns Management Team;
Klosterman, Hall & Fautsch Promoted
DUBUQUE, Iowa--(BUSINESS WIRE)--June 21, 2005--The Board of
Directors of Flexsteel Industries, Inc., (NASDAQ:FLXS) announced that
Ronald J. Klosterman was named President and Chief Operating Officer.
Klosterman was also appointed to the Board of Directors of Flexsteel.
Timothy E. Hall was appointed Vice President, Chief Financial Officer
and Treasurer, and Lee David Fautsch was promoted to Vice President,
Residential Sales.
K. Bruce Lauritsen will continue as Chief Executive Officer and
was also appointed Vice Chairman of the Board of Directors. Mr.
Lauritsen commented, "these appointments are a part of the succession
plan developed by the Board of Directors."
"This team will continue to serve Flexsteel well," said Lauritsen,
"and this new alignment is in keeping with the Flexsteel Board's
long-standing practice of putting a team in place with an eye to the
Company's future needs." Mr. Lauritsen added, "Flexsteel's strategic
focus is on providing our dealers, and ultimately the consumer, with
quality furnishings for the home, recreational vehicles, and
commercial interiors. Our management team has the combined expertise
to do just that."
Klosterman, the new President, has a long history with Flexsteel,
having joined the Company 32 years ago in corporate accounting. For
six years, he was general manager of the Company's upholstered
furniture division in Dublin, Georgia; he later returned to the
Dubuque headquarters and advanced to Executive Vice President,
Director of Operations and Chief Financial Officer.
Taking over as Vice President, CFO and Treasurer is Timothy E.
Hall, who has been with Flexsteel for 10 years and has served as
Corporate Controller and as Treasurer. Lee David Fautsch is taking up
the responsibilities of Vice President for Residential Sales. Serving
most recently as National Sales Manager, Fautsch has been with
Flexsteel for 16 years with regional sales management experience and
is currently responsible for directing the expansion of the Company's
residential furniture sales.
Established in 1893, Flexsteel Industries, Inc. is headquartered
in Dubuque, Iowa, and was incorporated in 1929. Flexsteel is a
designer, manufacturer, importer and marketer of quality upholstered
and wood furniture for residential, recreational vehicle, office,
hospitality and healthcare markets. All products are distributed
nationally.
CONTACT: Flexsteel Industries, Inc., Dubuque
Timothy E. Hall, Chief Financial Officer, 563-585-8392