Brunswick Corporation Announces Organizational Changes

Rhea-AI Summary

Brunswick (NYSE: BC) has announced significant organizational changes to broaden the experience of its senior leadership team. Aine Denari is appointed Executive VP and President of Navico Group, and Brunswick Chief Technology Officer. Brenna Preisser becomes Executive VP and President of Brunswick Boat Group. Will Sangster is promoted to Senior VP and President of Business Acceleration.

These changes aim to leverage the leaders' proven track records and expertise across different divisions. Denari will lead Navico Group's evolution and Brunswick's technology strategy. Preisser will oversee Brunswick's portfolio of 18 leading boat brands. Sangster will focus on growing the Business Acceleration division, including Freedom Boat Club's international expansion.

CEO Dave Foulkes emphasized that these moves, along with Ryan Gwillim's recent role expansion to CFO and Chief Strategy Officer, reflect Brunswick's commitment to developing high-potential leaders and maintaining a competitive advantage through talent management.

Positive

• Organizational restructuring aims to broaden senior leadership experience
• Aine Denari appointed to lead Navico Group and oversee Brunswick's technology strategy
• Brenna Preisser to manage Brunswick's portfolio of 18 leading boat brands
• Will Sangster promoted to lead Business Acceleration division, focusing on international growth
• CEO highlights deep talent bench and successful track record of appointed leaders

Negative

• Brett Dibkey, former President of Navico Group, is leaving the company

Market Research Analyst

This organizational reshuffle at Brunswick (NYSE: BC) is largely neutral for investors. While it demonstrates the company's commitment to talent development and strategic positioning, it doesn't directly impact financial performance or market dynamics. The changes appear to be part of a long-term strategy to optimize leadership across key divisions.

Notable points include:

• Aine Denari's expanded role overseeing Navico Group and technology strategy could potentially drive innovation in marine technology.
• Brenna Preisser's transition to lead the Brunswick Boat Group leverages her experience in expanding Freedom Boat Club, which could benefit the boat brands portfolio.
• Will Sangster's promotion to lead Business Acceleration might accelerate international growth for Freedom Boat Club.

While these changes may yield long-term benefits, they don't represent immediate, material impacts on Brunswick's financial outlook or stock performance. Investors should monitor future quarterly reports for any tangible effects of this reorganization.

METTAWA, Ill., Aug. 20, 2024 (GLOBE NEWSWIRE) -- Brunswick Corporation, (NYSE: BC), the world’s leading marine technology company, is announcing the following changes to its organization that are aimed at further broadening the experience of its senior leadership team. 

Aine Denari is named Executive Vice President and President, Navico Group, and Brunswick Chief Technology Officer.  Denari was previously President, Brunswick Boat Group, a role she assumed in October 2020.  During her tenure, Boat Group achieved exceptionally strong operational and financial performance and successfully navigated very dynamic market conditions. In her new and expanded role, Denari will lead the next phase of evolution of the Navico Group and be responsible for Brunswick’s technology strategy and advanced development activities, including maintaining the leadership of autonomy programs and assuming responsibility for the Boating Intelligence DesignLab at the University of Illinois.

Brenna Preisser is named Executive Vice President and President, Brunswick Boat Group, succeeding Denari.  Since January 2019, Preisser has been Executive Vice President and President, Business Acceleration, the division housing Freedom Boat Club, Boateka, and Brunswick’s financial services and related businesses. Preisser successfully led the acquisition and expansion of Freedom Boat Club from 170 locations to its current footprint of 410 locations around the world, and the creation of Boateka, Brunswick’s innovative pre-owned boat sales platform.  Preisser has held a number of executive positions at Brunswick over the past 20 years including Chief Human Resources Officer and Chief Strategy Officer.  She will now be responsible for Brunswick’s portfolio of 18 leading boat brands, including Boston Whaler, Sea Ray, Bayliner, Lund, Harris, Quicksilver, and Princecraft.

Will Sangster is promoted to Senior Vice President and President, Business Acceleration, succeeding Preisser, and will be responsible for the continued growth of the exciting portfolio of businesses within the division.  Sangster was most recently President of Mercury Marine in EMEA, a position he assumed in October 2021, and prior to that he spent 14 years with Brunswick in a number of international leadership positions including as the head of Mercury Marine’s ANZP region. Sangster’s operational and international experience will be extremely valuable as Freedom Boat Club grows in international markets and further optimizes its operating model.

“Brunswick is fortunate to have an extraordinarily talented leadership team and a deep bench.  Aine, Brenna, and Will have a proven track record of success in many previous positions and I’m proud and excited to see them all take on new and expanded responsibilities,” said Dave Foulkes, Brunswick Corporation CEO.  “These moves follow the recent expansion of the role of Ryan Gwillim, Brunswick’s Chief Financial Officer, to include Chief Strategy Officer. Our talent remains a major competitive advantage and our talent development strategy includes broadening the scope and experience of our highest potential leaders at all levels of the Company.”

Denari, Preisser, and Sangster will assume their new roles immediately. Brett Dibkey who preceded Denari as President, Navico Group will leave the company at the end of the August after assisting with the transition.  We thank Brett for his leadership and many contributions to successfully integrating and restructuring the Navico Group businesses in challenging market conditions and wish him every success in his future endeavors.   

About Brunswick Corporation:
Brunswick Corporation (NYSE: BC) is the global leader in marine recreation, delivering innovation that transforms experiences on the water and beyond. Our unique, technology-driven solutions are informed and inspired by deep consumer insights and powered by our belief that “Next Never Rests™”. Brunswick is dedicated to industry leadership, to being the best and most trusted partner to our many customers and to building synergies and ecosystems that enable us to challenge convention and define the future. Brunswick is home to more than 60 industry-leading brands. In the category of Marine Propulsion, these brands include, Mercury Marine, Mercury Racing, MerCruiser and Flite. Brunswick’s comprehensive collection of parts, accessories, distribution and technology brands includes Mercury Parts & Accessories, Land ‘N’ Sea, Lowrance, Simrad, B&G, Mastervolt, RELiON, Attwood and Whale. Our boat brands are some of the best known in the world, including Boston Whaler, Lund, Sea Ray, Bayliner, Harris Pontoons, Princecraft and Quicksilver. Our service, digital and shared-access businesses include Freedom Boat Club, Boateka and a range of financing, insurance and extended warranty businesses. While focused primarily on the marine industry, Brunswick also successfully leverages its portfolio of advanced technologies to deliver an exceptional suite of solutions in mobile and industrial applications. Headquartered in Mettawa, IL, Brunswick has 17,000 employees operating in 25 countries. In 2023, Brunswick was named by Forbes as a World’s Best Employer and as one of America’s Most Responsible Companies by Newsweek, both for the fourth consecutive year. For more information, visit www.Brunswick.com.

FAQ

What organizational changes did Brunswick (NYSE: BC) announce on August 20, 2024?

Brunswick announced three key leadership changes: Aine Denari as Executive VP and President of Navico Group and Chief Technology Officer, Brenna Preisser as Executive VP and President of Brunswick Boat Group, and Will Sangster as Senior VP and President of Business Acceleration.

How will Aine Denari's new role impact Brunswick 's (NYSE: BC) technology strategy?

As the new Chief Technology Officer, Aine Denari will be responsible for Brunswick's technology strategy, advanced development activities, autonomy programs, and the Boating Intelligence DesignLab at the University of Illinois, in addition to leading Navico Group.

What is Brenna Preisser's new responsibility at Brunswick (NYSE: BC)?

Brenna Preisser is now responsible for Brunswick's portfolio of 18 leading boat brands, including Boston Whaler, Sea Ray, Bayliner, Lund, Harris, Quicksilver, and Princecraft, as the new Executive VP and President of Brunswick Boat Group.

How will Will Sangster's promotion affect Brunswick 's (NYSE: BC) Business Acceleration division?

As the new Senior VP and President of Business Acceleration, Will Sangster will focus on the continued growth of the division's portfolio, particularly on Freedom Boat Club's international expansion and operational optimization.

What happened to Brett Dibkey, the former President of Navico Group at Brunswick (NYSE: BC)?

Brett Dibkey, who preceded Aine Denari as President of Navico Group, will be leaving Brunswick at the end of August 2024 after assisting with the transition.