Flexsteel Appoints William S. Creekmuir to its Board of Directors

DUBUQUE, Iowa–(BUSINESS WIRE)–Flexsteel Industries, Inc. (the “Company”) (NASDAQ: FLXS), one of the
oldest and largest manufacturers, importers and marketers of residential
and contract upholstered and wooden furniture products in the United
States, today announced the appointment of William S. (Bill) Creekmuir
as an independent director of the Company. Mr. Creekmuir has over 30
years of experience in the home furnishings industry and currently
serves as President of Atlanta-based Pinnacle Search Partners, a global
executive search firm. Mr. Creekmuir’s appointment expands Flexsteel’s
Board of Directors to nine members and he will serve on the Board’s
Audit and Ethics committee and Nominating and Governance committee.

“We feel very fortunate to have Bill join our Board of Directors and
look forward to benefitting from his many years of leadership in the
home furnishings industry and his experience as a board member of
several public and private enterprises,” said Flexsteel Chairman Thomas
M. Levine. “Bill’s industry knowledge and financial expertise as former
Chief Financial Officer at Simmons Bedding Company and former CFO at
publicly-traded LADD Furniture will contribute valuable insight as we
continue to execute our strategy for growth and value creation.”

Flexsteel CEO Jerry Dittmer added, “As the recently appointed Chief
Executive Officer and a new board member, I want to enthusiastically
welcome Bill Creekmuir to our Board of Directors. His background and
experience ideally complement the strength and expertise of our board
members and I am confident that their combined guidance will be
invaluable to me and our entire leadership team.”

“I have been a long-time admirer of Flexsteel’s innovative products and
customer-centric culture and I am honored to join its Board,” said Bill
Creekmuir. “In addition to my financial background and home furnishings
industry experience, I believe my experience in executive search will be
beneficial in helping to evaluate potential additions to the Flexsteel
team as the Company further deepens its bench of talented management to
position itself for future growth.”

Professional Background of William S. Creekmuir

William S. “Bill” Creekmuir is the President of Atlanta, Georgia-based
Pinnacle Search Partners, a global executive search firm. Prior to
shifting to executive search, Bill was the EVP and Chief Financial
Officer of private equity-owned Simmons Bedding Company in Atlanta,
Georgia from 2000 to 2011 and was the EVP and Chief Financial Officer of
publicly-traded LADD Furniture in Greensboro, North Carolina from 1992
to 2000. His earlier years were spent with KPMG, where he was named
Partner and held responsibilities in both the United States and Ireland.
Bill is a member of the Board of Directors and Audit Committee Chair of
publicly-traded Party City. He also has served on a number of private
company Advisory Boards as well as boards of several not for profit
organizations. Bill is a graduate of The University of North Carolina at
Chapel Hill and a Certified Public Accountant.

About Flexsteel

Flexsteel Industries, Inc. and Subsidiaries (the “Company”),
incorporated in 1929, is celebrating its 125th anniversary of
the Company’s founding in 1893. Flexsteel Industries, Inc. is one of the
oldest and largest manufacturers, importers and marketers of residential
and contract upholstered and wooden furniture products in the United
States. Over the generations the Company has built a committed retail
and consumer following based on its patented, guaranteed-for-life Blue
Steel Spring(TM) – the all-riveted, high-carbon, steel-banded seating
platform that gives upholstered and leather furniture the strength and
comfort to last a lifetime. With offerings for use in home, hotel,
healthcare, recreational vehicle, marine and office, the Company
distributes its furniture throughout the United States & Canada through
the Company’s sales force and various independent representatives.

Forward-Looking Statements

Statements, including those in this release, which are not historical or
current facts, are “forward-looking statements” made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. There are certain important factors that could cause our
results to differ materially from those anticipated by some of the
statements made herein. Investors are cautioned that all forward-looking
statements involve risk and uncertainty. Some of the factors that could
affect results are the cyclical nature of the furniture industry, supply
chain disruptions, litigation, product recalls, the effectiveness of new
product introductions and distribution channels, the product mix of
sales, pricing pressures, the cost of raw materials and fuel, retention
and recruitment of key employees, actions by governments including laws,
regulations, taxes and tariffs, inflation, the amount of sales generated
and the profit margins thereon, competition (both U.S. and foreign),
credit exposure with customers, participation in multi-employer pension
plans and general economic conditions. For further information regarding
these risks and uncertainties, see the “Risk Factors” section in Item 1A
of our most recent Annual Report on Form 10-K.

For more information, visit our web site at http://www.flexsteel.com.

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