Mark D. Schwabero will retire as chairman and CEO of Brunswick Corp. on Dec. 31. On New Year’s Day, he will be succeeded as CEO by David M. Foulkes, and as chairman of the board by Manuel A. Fernandez. Foulkes will also assume Schwabero’s spot as a board member.
Schwabero has had a 14-year career with Brunswick, assuming his current role in February 2016. He was previously president and chief operating officer of the company, as well as president of its Mercury Marine Group.
Under Schwabero’s leadership, Brunswick has continued to transition towards focusing solely on its marine business, announcing in March that it would spin off its fitness business into a standalone, publicly-traded company by the first quarter of 2019. Brunswick exited its bowling business in 2015.
In a summary of third quarter results, Schwabero noted that “Despite headwinds caused by trade policy, tariffs, and other input cost increases, which we were largely able to offset with pricing actions, our combined marine business had adjusted revenue growth of 18% in the quarter.”
Foulkes is currently CTO of Brunswick and president of its marine consumer solutions business. He joined the company in 2007 as vice president of R&D for Mercury Marine, went on to serve as Mercury Marine’s VP of product development, engineering and racing, and was most recently Brunswick’s VP and CTO.
Before joining the company, he worked at Ford Motor Co., Shell Exploration and the United Kingdom Ministry of Defense.
Fernandez is managing director of SI Ventures Inc. and is currently lead independent director of Brunswick’s board. He has been a member of the BoD since 2007, and has previously been chairman, president and CEO of Gartner Group; president and CEO of DataQuest; and president and CEO of Gavilan Computer Corp.
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- Mark Schwabero
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- David Foulkes
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- Manuel Fernandez
