LAKE FOREST, Ill. - Long-time Brunswick Corp. executive Peter B. Hamilton, whom a spokesperson called a “legend” within the company, has been named president of the Boat Group.
Hamilton, 59, reports to Dusty McCoy, Brunswick chairman and chief executive officer, whom he replaces, the marine industry giant reported in a statement yesterday. McCoy was elected chairman and chief executive officer in December 2005 after George Buckley left Brunswick for 3M.
Though Hamilton appears to have no marine industry experience, a spokesperson identified him as a lifelong boater and a skilled manager who has delivered strong results in other company divisions. He is not expected to pursue any significant changes in strategy at the boat group.
“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 McCoy. “Under his leadership, both our Life Fitness Division and Brunswick Bowling and Billiards Division have improved their financial performance and operating margins.”
Hamilton is going to be based at the company headquarters in Lake Forest, Ill., not at the boat group's “nerve center” in Knoxville, according to the Knoxville News Sentinel. However, he will be spending “significant amounts of time” there, the article stated.
Prior to joining Brunswick in 1995, Hamilton was vice president and chief financial officer of Cummins, Inc. from 1988 to 1995. He received his bachelor of arts degree from Princeton University and his law degree from Yale Law School.
Change in leadership at Sea Ray
In addition, the company reported that Sea Ray President Cynthia M. Trudell has resigned after about five years in the position. It appears her last day with the company was Friday. She told the Knoxville News Sentinel that she left “to pursue other opportunities.”
Brunswick named Richard C. Stone, 50, as her replacement, reporting to Hamilton. 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.
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