Brunswick Corp. CEO Mark Schwabero will retire at the end of 2018. He will be succeeded by David Foulkes, Brunswick chief technology officer and president of marine consumer solutions.
The company also announced that Manny Fernandez, Brunswick’s lead independent director, will become non-executive chairman upon Schwabero’s retirement.
This story originally appeared in Trade Only Today.
Foulkes will also replace Schwabero as a member of Brunswick’s board of directors, effective Jan. 1, and will serve for the remainder of Schwabero’s term until the company’s 2021 meeting of shareholders.
Schwabero joined Brunswick in 2004 as president of Mercury Outboards. In 2008, he became president of Mercury Marine and was appointed Brunswick president and chief operating officer in 2014.
Since becoming chairman and CEO in 2016, Schwabero has led several acquisitions, including the recent addition of Power Products.
Under his leadership, Brunswick initiated the process of separating its fitness business, which the company is working to complete by the end of the first quarter of 2019.
Brunswick is the parent company of distributor Land ‘N’ Sea.
