Iconic guitar maker Fender has named Edward “Bud” Cole as its new CEO, effective Feb. 16, the company announced this week. Cole, who currently serves as president of Asia Pacific for the brand, will succeed Andy Mooney, who is stepping down after a decade in the top role.
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As part of the new gig, Cole will also become a member of the Fender Musical Instruments Corporation board of directors, and take on the title of CEO-Designate beginning Jan. 19, before assuming the full role the following month. Mooney will retire at the end of the transition.
“[Bud] has a deep understanding of the Fender brand, our global players and the commercial and operational foundation required to propel us into the future,” FMIC board executive chairman Mark Fukunaga said in a statement. “His track record of building teams, expanding markets and elevating Fender’s presence around the world makes him uniquely qualified to lead the next chapter of growth. On behalf of the board, I also want to thank Andy Mooney for his leadership over the past decade and for the significant contributions he has made to the company.”
During his own decade-long run at Fender, Cole expanded the company’s business to 14 new countries in the Asia Pacific region, launching Fender’s APAC headquarters and its flagship retail store in Tokyo, expanding into China and Korea and establishing direct-to-dealer connections in Australia, as well as direct-to-consumer operations and retail stores and activations across the region, according to a press release. Prior to joining Fender in 2015, Cole worked in leadership positions at brands such as Ralph Lauren, LVMH, QVC and Pernod Ricard, working in more than 60 companies across the globe.
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“To lead Fender is the honor of a lifetime,” Cole said in a statement. “This brand has been a part of my life since childhood, and I’m committed to ensuring Fender continues to empower players everywhere, from beginners picking up their first guitar to the artists shaping the sound of today and tomorrow. Together with our global teams, partners and loyal community of players, we will write the next era of Fender’s history.”
Mooney, who has also been CEO since 2015, helped to more than double the size of Fender during his tenure, the company said, and expanded the instrument maker into the world of subscription digital software, a key innovation as it expands its footprint. “Leading Fender has been a highlight of my career,” he said in a statement. “I’m deeply grateful for the creativity and commitment of the Fender teams around the world and proud of what we’ve accomplished. I’m excited to pass the baton on to Bud and confident that under his leadership, Fender will continue to inspire players for generations to come.”
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