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Author Topic:   Brunswick Boat Group Names Executives

jimh posted 03-07-2006 12:23 AM ET (US)
In an announcement on February 28, 2006, Brunswick named two new executives in their boating divisions. Both have strong financial backgrounds.
Peter B. Hamilton was named President - Brunswick Boat Group, and Richard Stone was named president of Sea Ray. Curiously, Mr Hamilton appears to have not been involved previously with the operation or management of the boating divisions of Brunswick, which are now clearly the largest component of its corporate organization.
Mr. Hamilton is 59 years old and was previously president of Brunswick's Life Fitness Division, a position he had held for only about a year. He will continue to serve as vice chairman of Brunswick Corporation. He had previously served as president - Brunswick Bowling & Billiards for about five years. Mr. Hamilton held a number of prior positions at Brunswick, including executive vice president and chief financial officer from 1998 to 2000, and senior vice president and chief financial officer from 1995 to 1998. Prior to joining Brunswick in 1995, he was vice president and chief financial officer of Cummins, Inc. from 1988 to 1995. Hamilton received his bachelor of arts degree from Princeton University and his law degree from Yale Law School.
"Peter has a broad range of operating management and corporate experience, which will serve him well as he takes over the Brunswick Boat Group, the company's largest division," said Dustan E. McCoy, Brunswick chairman and chief executive officer. "Under his leadership, both our Life Fitness Division and Brunswick Bowling and Billiards Division have improved their financial performance and operating margins. The Boat Group will benefit from Peter's insights and leadership."

Mr. Stone is 50 years old and was named president of the Sea Ray Division, reporting to Hamilton. He succeeds Cynthia M. Trudell, who has resigned. Most recently, Stone served as chief financial officer of the Brunswick Boat Group, as well as managing director of the company's Sealine International business unit, based in Kidderminster, United Kingdom.
Stone joined Sea Ray in 1985, as vice president and controller. During his 16 years at Sea Ray, he held various positions of increasing responsibility rising to senior vice president and chief financial officer before being named CFO of the Brunswick Boat Group in 2001. He holds a bachelor's degree in accounting from Northern Arizona University and has completed the Program for Management Development at Harvard University.
The promotion of these two financial managers to top operating positions is a bit in contrast to the corporate leadership of Brunswick by now departed CEO George Buckley. Mr. Buckley had a strong engineering background and rose to the executive ranks from an engineering path.
bsmotril posted 03-07-2006 07:55 AM ET (US)
Within several of the large computer companies I have worked for over the las twenty years, it is quite common to move executives across the various business units so they get experience in each. This is especially done for those being groomed for higher office, perhaps CEO or CO. The moves may also reflect the immidiate internal goals to drive costs down and increase margins in a market where sales growth is hard to come by right now. BillS
DaveH posted 03-07-2006 09:53 AM ET (US)
I fail to see what experience Mr. Hamilton brings to the table by having jumped into 3 different positions withn three years. He probably just learned where the executive bathroom and dining room were located before moving his Blackberry charger to another desk. I am not impressed by this announcement.
Robob2003 posted 03-07-2006 11:01 AM ET (US)
bsmotril,
I see by your bio that you have experience with IBM (I've Been Moved).
I was with a large company and saw musical chairs played frequently in the name of cost cutting, etc.
It sometimes fell to me to teach the new management what product line we were selling:-)
The problem was often that in their zeal for a good bottom line in the next quarter the slashers pared off too much muscle with the fat.
Bob on Tampa Bay
bsmotril posted 03-07-2006 01:09 PM ET (US)
I've also seen just the opposite in my 7 plus year tenure with Dell. In that case, very competent executives were moved to underperforming divisions and were able to turn those divisions around with great benefit to the shareholders. BillS

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Author	Topic: Brunswick Boat Group Names Executives
jimh	posted 03-07-2006 12:23 AM ET (US) In an announcement on February 28, 2006, Brunswick named two new executives in their boating divisions. Both have strong financial backgrounds. Peter B. Hamilton was named President - Brunswick Boat Group, and Richard Stone was named president of Sea Ray. Curiously, Mr Hamilton appears to have not been involved previously with the operation or management of the boating divisions of Brunswick, which are now clearly the largest component of its corporate organization. Mr. Hamilton is 59 years old and was previously president of Brunswick's Life Fitness Division, a position he had held for only about a year. He will continue to serve as vice chairman of Brunswick Corporation. He had previously served as president - Brunswick Bowling & Billiards for about five years. Mr. Hamilton held a number of prior positions at Brunswick, including executive vice president and chief financial officer from 1998 to 2000, and senior vice president and chief financial officer from 1995 to 1998. Prior to joining Brunswick in 1995, he was vice president and chief financial officer of Cummins, Inc. from 1988 to 1995. Hamilton received his bachelor of arts degree from Princeton University and his law degree from Yale Law School. "Peter has a broad range of operating management and corporate experience, which will serve him well as he takes over the Brunswick Boat Group, the company's largest division," said Dustan E. McCoy, Brunswick chairman and chief executive officer. "Under his leadership, both our Life Fitness Division and Brunswick Bowling and Billiards Division have improved their financial performance and operating margins. The Boat Group will benefit from Peter's insights and leadership." Mr. Stone is 50 years old and was named president of the Sea Ray Division, reporting to Hamilton. He succeeds Cynthia M. Trudell, who has resigned. Most recently, Stone served as chief financial officer of the Brunswick Boat Group, as well as managing director of the company's Sealine International business unit, based in Kidderminster, United Kingdom. Stone joined Sea Ray in 1985, as vice president and controller. During his 16 years at Sea Ray, he held various positions of increasing responsibility rising to senior vice president and chief financial officer before being named CFO of the Brunswick Boat Group in 2001. He holds a bachelor's degree in accounting from Northern Arizona University and has completed the Program for Management Development at Harvard University. The promotion of these two financial managers to top operating positions is a bit in contrast to the corporate leadership of Brunswick by now departed CEO George Buckley. Mr. Buckley had a strong engineering background and rose to the executive ranks from an engineering path.
bsmotril	posted 03-07-2006 07:55 AM ET (US) Within several of the large computer companies I have worked for over the las twenty years, it is quite common to move executives across the various business units so they get experience in each. This is especially done for those being groomed for higher office, perhaps CEO or CO. The moves may also reflect the immidiate internal goals to drive costs down and increase margins in a market where sales growth is hard to come by right now. BillS
DaveH	posted 03-07-2006 09:53 AM ET (US) I fail to see what experience Mr. Hamilton brings to the table by having jumped into 3 different positions withn three years. He probably just learned where the executive bathroom and dining room were located before moving his Blackberry charger to another desk. I am not impressed by this announcement.
Robob2003	posted 03-07-2006 11:01 AM ET (US) bsmotril, I see by your bio that you have experience with IBM (I've Been Moved). I was with a large company and saw musical chairs played frequently in the name of cost cutting, etc. It sometimes fell to me to teach the new management what product line we were selling:-) The problem was often that in their zeal for a good bottom line in the next quarter the slashers pared off too much muscle with the fat. Bob on Tampa Bay
bsmotril	posted 03-07-2006 01:09 PM ET (US) I've also seen just the opposite in my 7 plus year tenure with Dell. In that case, very competent executives were moved to underperforming divisions and were able to turn those divisions around with great benefit to the shareholders. BillS