Terry Valmassoi announces retirement as CEO

Company co-founder to remain on Board as Kevin Richards is named Chief Executive Officer

FORT WAYNE, Ind. — MasterSpas CEO Terry Valmassoi has announced his plans to retire from his role as Chief Executive Officer effective June 30, 2026.

Valmassoi, a pioneer in the spa industry for more than 50 years, co-founded MasterSpas in 1996. Following his retirement, he will continue to serve the company as a member of its Board of Directors.

His career began at just 16 years old, and by age 19, he owned his own business, marking the start of a lifelong commitment to innovation and leadership in the spa industry.

“Over the past three decades at MasterSpas, his passion, determination, and commitment to excellence have shaped not only our products but also the culture and values that define who we are today,” says Kevin Richards, President of MasterSpas.

The company has enjoyed strong growth under Valmassoi’s leadership, becoming the largest manufacturer of hot tubs that are made in the USA, and the largest manufacturer of swim spas globally.

As part of this transition, Kevin Richards will become Chief Executive Officer upon Valmassoi’s retirement.

Richards, who has been with the company for 30 years, currently serves as the company’s president and had previously had the role as vice president of sales and marketing.

MasterSpas serves customers worldwide through their network of dealers. The company offers a suite of premium wellness products, including hot tubs, swim spas, cold tubs, and saunas including Michael Phelps Signature Swim Spas. This swim spa line was designed with input from 23-time gold medalist Michael Phelps.

About Master Spas

MasterSpas is based in Fort Wayne, Indiana. Operating out of a state-of-the-art, 614,000-square-foot manufacturing facility on a 45-acre campus, MasterSpas is the largest swim spa manufacturer in the world and the largest hot tub manufacturer that builds 100% of its spas in the USA using both domestic and foreign components. The company’s executive team brings together more than 150 years of spa manufacturing experience and has one of the strongest track records in the industry. For more information, visit www.MasterSpas.com.