|Fender Musical Instruments Corporation Appoints Andy Mooney to CEO|
Former Disney and Nike executive to take helm of the world leader in musical instruments
SCOTTSDALE, Ariz., Jun 02, 2015 (BUSINESS WIRE) -- Fender Musical Instruments Corporation (FMIC), the world leader in musical instruments, announced today that Andrew “Andy” P. Mooney has been appointed chief executive officer (CEO), effective immediately. Mooney joins FMIC from Quiksilver, Inc. and brings significant experience growing global brands such as Disney Consumer Products (DCP) and Nike, Inc. The addition of Mooney will help drive FMIC brands with an approach that puts both seasoned and first-time musicians at the forefront.
Mooney spent 11 years leading DCP, first as president and then as chairman starting in 2003. During his time at Disney, Mooney oversaw the company’s worldwide licensing, publishing and retail businesses and the tripling of retail sales to $36 billion. He also pioneered the $4 billion Disney Princesses franchise and established the Disney Fairies brand, and retail lines based on the Pixar Animation films, “Toy Story” and “Cars.”
Before joining DCP, Mooney worked at Nike, Inc. for 20 years in a number of senior roles, ultimately becoming chief marketing officer. Mooney began his career at Nike as chief financial officer of Nike UK and then relocated to the United States in 1984 to join the marketing team. Throughout his tenure, Mooney led Nike’s footwear product line management team, was general manager of Nike’s $3 billion global apparel business and founded the company’s equipment division. Mooney also collaborated on the iconic advertising campaigns, “Just Do It” and “Bo Knows” with Bo Jackson and others.
“Andy has proven success in connecting consumers to brands,” said Mark Fukunaga,chairman and CEO of Servco Pacific Inc. and co-chair of the FMIC board of directors. “His personal passion for Fender guitars and the company’s long and storied history makes him a great fit for our culture. We are tremendously excited to have an executive of Andy’s caliber at the helm of Fender and we look forward to great success in the future under his leadership.”
“Andy’s appointment to the Fender executive team is a significant milestone for this revolutionary company that has transformed music worldwide,” said Bill McGlashan, founder and managing partner of TPG Growth and co-chair of the FMIC board. “With more than 30 years of experience growing global brands, Andy understands how to drive innovation and introduce differentiated product offerings in the market, underscoring our commitment to propel the Fender brand forward. TPG and the Fender board of directors believe Andy’s global business and consumer brand experience make him the perfect executive to lead Fender’s next chapter of growth.”
Mooney has been a player, collector and student of Fender® guitars and amps for more than 40 years, studying classical guitar in grade school and working summer jobs as a teenager to pay for his first-ever electric guitar: a Fender Musicmaster™. He now boasts a collection of more than 30 Fender guitars.
“As a longtime fan and user of Fender products, it’s a dream come true to be asked to lead a brand and company that I personally have so much admiration for,” said Mooney.
ABOUT FENDER MUSICAL INSTRUMENTS CORPORATION
Fender Musical Instruments Corporation (FMIC) is one of the world’s leading musical instrument manufacturers, marketers and distributors, whose portfolio of brands includes Fender®, Squier®, Gretsch® fretted instruments, Jackson®, Charvel® and EVH®. Servco Pacific Inc. and TPG Growth are the majority owners of Fender Musical Instrument Corporation. For more information, visit www.fender.com.
ABOUT SERVCO PACIFIC INC.
Servco Pacific Inc. (Servco) is a privately held, Hawaii-based corporation primarily focused on automotive distribution and sales as well as specialty insurance brokerage. With automotive operations in Hawaii and Australia, Servco ranks in the top 30 US automotive dealer groups, and is a leading regional broker in Hawaii and the Pacific Northwest placing marine, aviation and employee benefits coverage. Servco’s recently formed private equity group, Servco Pacific Capital, invests in consumer, insurance and service-oriented businesses. Servco was part of the original investor group that acquired Fender from CBS in 1985, and has been actively involved through its ownership and representation on the Fender board from that date. In late 2012, Servco and TPG Growth acquired majority control of Fender. Additional information may be found at www.servco.com.
ABOUT TPG GROWTH
TPG Growth is the middle market and growth equity investment platform of TPG, the global private investment firm. With more than $7 billion in assets under management and committed capital, TPG Growth targets investments in a broad range of industries and geographies, with a significant focus on the U.S. and large, emerging markets such as China, India, Brazil and Southeast Asia. TPG Growth has the deep sector knowledge, operational resources and global experience to drive value creation and help companies reach their full potential. Backed by the resources of TPG, which has over $67 billion of assets under management, TPG Growth leverages the firm's sector teams, portfolio companies and network. TPG Growth's current and past investments represent a mix of disruptive and innovative companies across tech, retail and entertainment including Uber, Airbnb, Box, Domo, Beautycounter, Ride, Angie's Artisan Treats, Fender, SurveyMonkey, Evolution Media and STX Entertainment, among others. TPG Growth has offices in the United States, China, India and Singapore. For more information visit www.tpggrowth.com.
SOURCE: Fender Musical Instruments Corporation