Master Spas recently announced that Terry Valmassoi has been named president and CEO of the company.
The appointment comes following the retirement of Bob Lauter. Bob and Terry founded Master Spas in 1996, with a focus on innovation and developing spas to help the world live life better.
“When I put together the deal to purchase the spa division of Fort Wayne Pools, I thought I might be stepping out on my own. But Terry is a true entrepreneur and saw what I saw — an opportunity to build a spa company from the ground up,” says Bob. “Without him, it would have been a completely different company. So, the move from president to president and CEO is a natural progression because Terry has been so instrumental in the growth and operations at Master Spas.”
Under their leadership, the company grew to become one of the world’s largest swim spa and portable hot tub manufacturers that makes 100% of its product in the United States. The growth was driven by a culture of innovation and dedicated teamwork.
Terry, a southern California native, has worked in the spa industry for more than 40 years. While he was attending college in 1978, he started his first business selling and installing hot tubs, and the following year, began a company that manufactured gelcoat spas. He earned his bachelor’s degree from Long Beach State in financial management and continued establishing his role as a leader in the spa industry.
In his tenure at Master Spas, Terry has overseen the day-to-day operations of the company, the expansion requirements to support continued growth and developed a talented team dedicated to Master Spas culture and core values.
Terry is active in the Fort Wayne community and is a member of the Business Forum, which is composed of nearly 80 active and retired business leaders.
"I am honored to be named president and CEO," says Terry. "Bob and I worked alongside each other for 30 years. Together, we had a passion for the industry, a passion for innovation and always pushing to do better. And that’s something I will bring with me as we continue to grow the business."
Master Spas serves customers worldwide through their network of dealers throughout North America, Europe, Asia and the South Pacific. The company produces high-quality hot tubs and swim spas, including Michael Phelps Signature Swim Spas. This swim spa line was designed with input from 23-time gold medalist Michael Phelps.
"My focus, as we move forward, will be strategic planning and how we can continue to grow the business, take care of our customers and support the community," says Terry. "We will do it the way we have done in the past — with continual creative thought, innovation and passion for all that we do."