DUBUQUE, Iowa -- Flexsteel Industries, Inc. has announced that Derek P. Schmidt will join Flexsteel and assume the role of chief financial officer and chief operating officer.

Schmidt brings over 25 years of broad financial leadership and general management experience driving profitable growth across multiple industries, including over seven years in the furniture industry.

He was most recently senior vice president, chief financial officer for Crescent Electric Supply Co., one of the nation’s largest electrical distributors. In this role, Schmidt had executive responsibility for the finance, accounting, supply chain and pricing functions. He developed and initiated a plan to accelerate the company’s profitable growth via supply chain improvements, service level optimization and inventory management.

“We are pleased to welcome Derek to the Flexsteel team. His proven financial and operational experience in continuously improving business results will be instrumental to Flexsteel’s return to profitable growth and value creation for all shareholders,” said Jerry Dittmer, president and chief executive officer of Flexsteel. “I have worked with Derek in the past and know first-hand his passion for talent development, which is so important to the future success of our company.”

Prior to joining Crescent Electric Supply Co., Schmidt held multiple executive positions with HNI Corp., a global office furniture manufacturer. See http://www.flexsteel.com