Board Members Boylen and Holloran to Retire
September 12 2011 - 5:45PM
Business Wire
At the September Board of Directors meeting of Flexsteel
Industries, Inc. (NASDAQ: FLXS), Bruce Boylen and Tom Holloran
announced their decision to retire from the Board effective at the
December 2011 shareholders meeting.
Bruce Boylen joined the Board in 1994, bringing with him an
extensive background in the recreational vehicle industry and
manufacturing operations. His career with Fleetwood Enterprises, a
leading brand in the recreational vehicle industry, embraced every
facet of development, manufacturing and management.
During his 17 years on the Flexsteel Board, he served as a
member of the Nominating and Compensation Committee from 1994
through 2003; he served as Chair since 1995. He also was a member
of the Audit and Ethics Committee. He was named Chairman of the
Board in 2000.
Bruce’s operational background and experiences have provided
vision and guidance to Flexsteel during his years as a Board Member
and Chairman. He was Chairman in 2003 when Flexsteel made its
largest acquisition, DMI Furniture, Inc.
Tom Holloran has provided extraordinary leadership since joining
our Board in 1971. His qualities of integrity, honesty, enthusiasm
and leadership have been key to his extraordinary contributions.
Flexsteel has been fortunate to have someone with his skills,
including his abilities in effective corporate governance, on our
Board for nearly 40 years.
Tom has served on the Company’s Audit and Ethics Committee since
its beginning in 1976 and served as Committee Chair through 2008.
He also served on the Nominating and Compensation Committee from
1982 through 2010. He has also been our Lead Independent Director
for nearly 20 years.
“Flexsteel has been very fortunate to have Bruce and Tom as
trusted advisors for many years,” said Ronald J. Klosterman,
Flexsteel’s President and CEO. “We will miss the guidance and
counsel of Bruce and Tom. Our Company is much stronger because of
their insights, significant contributions and the consistent
support that they have provided during their long tenures as
Directors.”
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