Flexsteel's Bruce Lauritsen dies
Had been CEO from 1993 through 2006
By Furniture Today Staff -- Furniture Today, May 21, 2007
DUBUQUE, Iowa. — K. Bruce Lauritsen, vice chairman of the board and chairman of the executive committee of upholstery manufacturer and furniture importer Flexsteel Inds., died Sunday after a bout with pancreatic cancer. He was 64.
Lauritsen joined Flexsteel in 1968 as a sales representative and spent nearly four decades at the company, serving in various sales and senior management positions including national sales manager and chief operating officer.
He was named president in 1989 and CEO in 1993, a post he held until he was succeeded by Ronald Klosterman on Dec. 31, 2006.
During the past 10 years, Lauritsen led the company to increased sales, expanded markets and enhanced brand recognition. While CEO, Lauritsen reorganized the reporting structure of the company into three business units: home furnishings, commercial, and recreational vehicle/marine.
Lauritsen also led the executive team and directors in the acquisition of DMI Furniture, which in turn implemented an offshore Asian sourcing program to blend with the company’s U.S. manufacturing focus.
“Bruce, in his long tenure with Flexsteel, served in many demanding and critical positions,” said Bruce Boylen, chairman of Flexsteel’s board. “Under his leadership as president and CEO, the company’s revenue increased from $200 million to more than $400 million.
“In addition, his leadership guided the company as it evolved to meet the challenges of the constantly changing business climate and helped Flexsteel maintain its leadership role in the home furnishings industry. As a leader and a friend, Bruce will be sorely missed,” Boylen said.
Lauritsen is survived by wife Jeanne, three children, two stepchildren, 16 grandchildren, a brother, and four sisters.
A wake is scheduled for 2 p.m. to 7:30 p.m. Wednesday at St. Joseph The Worker Catholic Church, 2001 St. Joseph Street, with a special wake service at 7:30 p.m. Funeral will be at 11:30 a.m. Thursday, with a short visitation before the mass beginning at 10:30.
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Cancer claims Flexsteel's Lauritsen
May 27, 2007
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