Kimball International Inc. has announced Chief Executive Officer Bob Schneider will step down later this year. He informed the Jasper-based company’s board of directors that he will retire October 31, after four years at the head of the company.
Schneider intends to remain a board member until his term expires in 2020.
“The past four years have been a tremendous honor and pleasure to lead our Company in the journey to improved health and profitability, to the point where we are now ready for the next phase of growth,” stated Schneider. “I’ve always had an aspiration to retire early to allow ample time to pursue personal interests and travel. Upon becoming CEO and Chairman of the Board in 2014, I wanted to see Kimball International make the transition to a single class public company and to see the Company regain its health before considering retirement. With the support of the Board and the dedicated employees of our Company, we accomplished both within three years."
The board has formed a CEO search committee of independent directors, which has employed an executive search firm to find internal and external candidates.