The Edge and Bono of U2 Join Fender Board
The Edge and Bono help Fender's rehabilitation efforts by joining the corporation’s board of directors.
Fender Sells Guild Brand to Cordoba
Much is to be expected from U2's dynamic duo, especially with the news of Fender Musical Instruments Corporation(FMIC)'s recent down-sizing - selling the Guild brand to Cordoba and closing one of their USA facilities.
As part of the board, the two gentlemen will be bringing their experience in music, entertainment, business and advocacy to the 68 year old company. The Edge's penchant and experience with the guitar and the technology that revolves around the instrument will hopefully come in handy during board meetings. While Bono's creativity and charisma will help in growing the brand further.
Fender co-chairman Bill McGlashan says, "By adding The Edge and Bono to the board of Fender, we are taking an important step toward building a company that is able to meet its potential as a business and a brand. The music world is changing and Fender is undergoing a transformation into a better music company."
Being a fan of the Fender brand, I do hope Bill is right, and any effort to help steer the brand away from failing is welcome - including signing up rockstars as board directors. Mark Fukunaga, another co-chairman, justifies the new addition to their board by saying, "While the company’s strength is rooted in its history as a maker of authentic, iconic musical instruments, Fender is also a music company. The Edge’s track record as a guitarist and an innovator of unique sounds through his use of technology makes him an ideal partner to grow Fender’s brand. Bono is a visionary in the music world who also has business acumen and creativity that will help Fender thrive."
The Edge is quoted in the press release saying, "This is something of a kid in a candy store situation for me. I've been a fan of Fender guitars from the beginning, playing them on all the most important U2 tours and albums. But I'm most interested in working with the Fender design team on some new ideas."
Bono adds that he will help protect the jobs that rely on the brand, here is his full statement, "Wherever you go in the world Fender is a standard bearer, not just for excellence in technology and craft, but for the influence of American culture. This made-in-USA company has at its heart innovation…the iconoclasm of Jimi Hendrix, the subtle sweet murmurings of Bill Frisell, as well as the most roadworthy loudspeaker on earth. When a festivalgoer wears a Fender t-shirt, they are saying a lot about themselves. They love music; they're independent-spirited, they're proud of this truly American company, a nexus of technology and culture which, in the end, can't be copied no matter how hard the giants try. I'm excited to be part of developing newer technologies with Fender, as well as helping protect the jobs and commitment to excellence of their age-old craft."
Last April, Bob Roback became the president of the company and has since been overseeing the development of Fender’s digital strategy to engage directly with musicians and music fans. Bono and The Edge are expected to compliment these development plans, hopefully resulting in the transformation - for the better - of the iconic Fender brand.
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