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Boylen, Holloran to Retire From Flexsteel Board

Furniture Today Staff -- Furniture Today, September 24, 2011

DUBUQUE, Iowa - Longtime Flexsteel Inds. board members Bruce Boylen and Tom Holloran have announced they'll retire at the shareholders meeting in December, the furniture manufacturer and importer announced.
     In other news, the board raised the company's quarterly stock dividend by 33% to 10 cents per share, payable Oct. 6 to shareholders of record on Sept. 22. It is the 279th consecutive dividend the company will have paid since 1938.
     Boylen joined the board in 1994, bringing with him an extensive background in the recreational vehicle industry and manufacturing operations at Fleetwood Enterprises. He was named chairman of the Flexsteel board in 2000 and held that post in 2003, when the company made its largest acquisition, DMI Furniture.
     Holloran has served on the board since 1971 and has been its lead independent director for nearly 20 years. Flexsteel officials praised him for his integrity, honesty, enthusiasm and leadership.
     "Flexsteel has been very fortunate to have Bruce and Tom as trusted advisors for many years," said Ronald 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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Bruce Boylen, Tom Holloran to retire from Flexsteel board

Sep 13, 2011

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