Veteran furniture-industry executive Derek Ritzel has joined Castelle (Fort Lauderdale, Florida) as CEO, succeeding Steve Lowsky. The change in leadership is the culmination of a long-term transition plan put into place when private equity company New Water Capital acquired family-owned Castelle in July 2015.

Lowsky says, “The Lowsky family started this company in 1978 with just the family, working seven days per week. In 2015, with the change in ownership, my role has been to help transition the company from a family business to a portfolio company of New Water Capital. I have spent the past 20 months with this goal in mind. Castelle, its brands, and our 450 team members are in a great place, with a bright future in the casual-furnishings industry, and I look forward to watching their continued success.”

John Disa, chair, says, “With more than 20 years of experience at all levels of the furniture industry, Derek is a phenomenal choice to lead Castelle. He is a dynamic and innovative leader with demonstrated expertise in the areas of team building, business development, and leveraging new technologies.”

Ritzel says, “I am greatly honored at the opportunity to be part of this highly regarded and industry-leading company. The company’s heritage is one of innovation and expansion, and I look forward to continuing and building upon its success.”

Ritzel most recently served as president and COO of Tempur Sealy Canada, where he was instrumental in integrating the Tempur and Sealy Canadian operations and in driving significant profitable growth. He began his career in 1992 with Sealy, where he advanced steadily through sales, marketing, and operations positions.