MasterSpas CEO Terry Valmassoi to Retire; Kevin Richards Named Successor

MasterSpas announced that CEO and co-founder Terry Valmassoi will retire from his role effective June 30, 2026, concluding a more than 50-year career in the hot tub industry.

Valmassoi has led the company since its founding and played a key role in building MasterSpas into a global manufacturer. His leadership helped shape the company’s growth, product development and culture, according to the company.

Kevin Richards, current president of MasterSpas, will succeed Valmassoi as CEO. Richards joined the company in 1996 and has held a range of roles, including customer service manager, national sales manager and vice president of sales and marketing. The company says his experience and long-standing relationships within the dealer network position him to lead the organization into its next phase.

Valmassoi will remain involved with the company as a member of its board of directors.

MasterSpas says the leadership transition reflects a long-term succession plan designed to ensure continuity for its employees, dealers and partners.