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Fender Musical Instruments Corporation Appoints New Chairman.

SCOTTSDALE, Ariz. -- The Board of Directors of Fender Musical Instruments Corporation ("FMIC" or "Fender"), the world's foremost manufacturer of guitars, amplifiers and related products, announced the appointment of a new Chairman. The position was recently vacated with the passing of FMIC's long-time leader Bill Schultz. Last week, the Board unanimously appointed William "Bill" Mendello as Chairman. With this appointment, Mr. Mendello will now hold the concurrent role of Chairman and Chief Executive Officer.

Mr. Mendello has been affiliated with Fender and its predecessors since 1971. In April 2005, Mr. Mendello was named Chief Executive Officer and prior to this served as President and Chief Operating Officer of the Company from May 1996 to March 2005. Prior to this time, Mr. Mendello held various roles of increasing responsibility including Chief Financial Officer. Mr. Mendello has been a Director of FMIC since March 1985.

Mr. Mendello's career in the music industry started in 1977, when he moved to Chicago to work for CBS Musical Instruments Division as the Vice President/Controller. This Division included such famous brand names as Steinway (pianos), Rodgers (organs), Gemeinhardt (flutes), Lyon & Healy (harps) and, of course, Fender. In 1981, Mr. Mendello relocated to California when the Division moved to Fullerton, CA.

"Our management team is committed to continuing the industry leadership and accomplishments of the past twenty years," said Bill Mendello, FMIC's Chairman and CEO. "Overall I'm really excited about the future of Fender. Our mission today is to exceed the expectations of music enthusiasts worldwide and create a community for individual expression by focusing on our people, products and business excellence. We are now more than ever focused on creating a culture and organization that can achieve this mission."

Mr. Mendello holds a Bachelors and Masters Degree in Mechanical Engineering from the Newark College of Engineering and received an MBA from Rutgers University. Born in Paterson, New Jersey, Mr. Mendello currently resides in Scottsdale with his wife of 7 years, Donna.

About Fender Musical Instruments Corporation

Fender Musical Instruments Corporation (FMIC) is the world's foremost manufacturer of guitars, amplifiers, and related equipment. Since 1946, the name Fender has become synonymous with all things rock an' roll: from Buddy Holly to Jimi Hendrix to Eric Clapton to Kurt Cobain and everything in between. Fender's iconic instruments such as the Telecaster[R], Stratocaster[R], Precision Bass[R] and Jazz Bass[R] guitars are known the world over as the instruments that started the rock revolution, and they continue to be highly prized among today's hottest guitarists and collectors alike. FMIC markets using the brand names Fender[R], Squier[R], Guild[R], Gretsch[R], Jackson[R], Charvel[R], SWR[R], Tacoma[R], Olympia[R] and Brand X[R].
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Publication:Business Wire
Date:Oct 17, 2006
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