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Fender Contact: Jason Farrell                                                                         
(480) 845-5559
jfarrell@fender.com                                                                                         

Beats by Dre Contact: Sarah Joyce
(310) 795-4757
sarah.joyce@beatsbydre.com

FENDER MUSICAL INSTRUMENTS CORPORATION WELCOMES BEATS ELECTRONICS PRESIDENT LUKE WOOD TO BOARD OF DIRECTORS

SCOTTSDALE, Ariz. (August 26, 2014) – Fender Musical Instruments Corporation (FMIC) today announced that Beats Electronics (Beats) President, Luke Wood, has joined Fender’s esteemed Board of Directors. Under Wood’s leadership, Beats, which is owned by Apple, has grown into a global household name and one of the most successful and recognizable consumer electronics companies in the world. Wood was also instrumental in facilitating the company’s recent acquisition by Apple Inc. Today he lends his more than 20 years of experience to Fender’s board. Wood will join Fender’s most recent additions to the company’s Board of Directors, U2’s Bono and The Edge, who were both appointed in May of this year.

“We are delighted to welcome Luke to Fender’s Board of Directors,“ said Mark Fukunaga, FMIC’s Co-Chairman of the Board. “His successful track record as an executive in the recorded music industry and music-based consumer products and services brings many very exciting potential opportunities to Fender and music consumers globally.”

"Making music is a passionate endeavor, and Luke embodies this passion — as an entertainment executive, producer and musician. His perspective will be invaluable as we continue to grow Fender, even more closely connect with consumers, and help define the next phase of the music industry," said William McGlashan, FMIC’s Co-Chairman of the Board.

"My first amplifier was a Fender Twin Reverb and my Fender Jazzmaster guitar is, in my opinion, the perfect instrument,” said Wood. "Fender's combination of iconic design and unbeatable tone has informed and inspired everything I have ever done as a musician, record executive and now as President of Beats. I'm incredibly fortunate to bring this passion to the Fender Board of Directors."

Prior to Beats, Wood served as Chief Strategy Officer of Interscope Geffen A&M (IGA) and President of the imprint DGC Records. At Interscope, he oversaw the company’s traditional and digital business development, its emerging business and revenue, and its operational strategy. As DGC President, Wood was responsible for all A&R and marketing decisions, as well as for developing and guiding the label’s artist roster. Wood began his career with Geffen Records in 1991 as a Director of Publicity and subsequently served as Geffen’s Director of Marketing, and later as Vice President of A&R at DreamWorks Records. In 2003, Wood joined Interscope Records (as part of its merger with DreamWorks) as Executive Vice President of A&R.

A lifelong producer, songwriter and musician, Wood signed a publishing deal with Universal Music Group in 1996 and that same year his band, Sammy, released its third album, Tales of Great Neck Glory, on Geffen/DGC Records. Wood earned a Bachelor of Arts degree from Wesleyan University with a major in American Studies.

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About Fender Musical Instruments Corporation Fender Musical Instruments Corporation (FMIC) is one of the world’s leading musical instrument manufacturers, marketers and distributors, whose portfolio of brands includes Fender®, Squier®, Gretsch®, Jackson®, Takamine®, EVH®, Ovation®, Charvel® and Groove Tubes®, among others. Servco Pacific Inc. and TPG Growth are the majority owners of Fender Musical Instrument Corporation. For more information, visit www.fender.com.