Flexsteel Industries, Inc. announced the appointment of Dr. Anand S. Kangala as an independent director to its Board of Directors, effective September 10, 2026. Dr. Kangala will serve as a Class I director, a position that will stand for re-election at the company's 2027 annual meeting of shareholders. He has also been appointed to the Board's Audit and Ethics Committee.
According to the company's press release, Dr. Kangala is currently the Chief Digital and Technology Officer of Trex Company, Inc., a position he has held since 2024. Prior to joining Trex, he held senior leadership roles in digital transformation and technology at The Home Depot, Edward Jones, Carter's, Cato Corporation, and Lowe's Companies. The company highlighted his experience in leading digital transformation and AI-enabled business improvement in consumer-facing businesses.
Flexsteel noted that Dr. Kangala's background is relevant to the company's strategic priorities, including strengthening consumer focus, improving execution, and using data and technology more effectively. The company stated that he will add important oversight perspective regarding enterprise systems, data, AI, and technology-enabled risk management.
In terms of compensation, Dr. Kangala will participate in the company's non-executive director compensation program. This includes an annual retainer of $75,000 for service as a Board member and a quarterly stock grant valued at $26,250, rounded to the nearest share, with no additional vesting requirements. Additionally, he will receive an annual retainer of $7,500 for his service on the Audit and Ethics Committee.
The company disclosed that since the beginning of its last fiscal year and through the present, there have been no transactions with the company involving Mr. Kangala that exceed $120,000 in which he had a material interest. The filing also indicated that no arrangement or understanding exists between Mr. Kangala and any other person regarding his appointment.
