Industry Pioneer Neutral Posture Announces New President, Secures Long Term Financial Restructuring

Neutral Posture, Inc., a U.S.-based, women-owned small business manufacturer and leader in ergonomic seating and workplace furniture, has promoted from within and named Kari Krueger as the president of the company. Ms. Krueger takes on the position after serving as its executive vice president of strategic development for two years, and she will additionally join the company's board of directors.

Rebecca Boenigk, chairman and CEO, stated, "We are thrilled to have Kari assume this leadership role at the company. She has proven to be a strong, strategic leader and has earned the respect of her coworkers and the shareholders."

Krueger stated, "I'm honored and excited to be named president of Neutral Posture. I love everything about the company, from its start-up history of operating out of a garage to its current reputation as an international, top-selling ergonomic seating and workplace furniture company." Before Neutral Posture, Krueger held leadership positions in the financial services and retail industries, including as a vice president, and in the services industry, as executive director of a non-profit organization.

Boenigk and her mother, Jaye Congleton, co-founded Neutral Posture as a "bad back" chair company in 1989. Since then, it has grown exponentially and now provides office workers with pioneering seating, systems, benching, desking and accessories.

Neutral Posture simultaneously announced that it has successfully reorganized its capital structure to target growth and expansion. This restructuring serves as a post-pandemic platform of stability and the ability to pursue growth opportunities.

Boenigk said, "The last two years have brought many challenges to all of us, and I'm delighted we're emerging from the pandemic with a very bright future, a record backlog and new products across a wide spectrum of our product lines."

The refinancing came at an opportune time and was made possible in part by the company's operating strengths and differentiation. During the COVID-19 pandemic, Neutral Posture maintained staffing across all shifts. Additionally, where many American manufacturers suffered from supply chain issues, Neutral Posture sustained standard lead times for manufacturing and delivery. Lastly, the company ensured it is ideally positioned to benefit significantly from its 8(a) status as the only certified women-owned seating and systems manufacturer globally with this certification. At a time when corporations are increasing their diversity spending, the ergonomic furniture products and 8(a) status of Neutral Posture offer a great way to meet these needs while creating healthy work environments.

Krueger said of the recent financial restructuring, the longtime operational strengths, and the recognized, differentiated industry positioning, "I'm proud that Neutral Posture has been able to pivot and position itself for future growth in the face of the pandemic. We are so grateful to our employees, suppliers, manufacturer representatives, furniture dealers, designers and customers for their interest in our pioneering ergonomic products and support of our industry differentiation."