Brunswick Corporation announced that its Board of Directors has elected Dustan E. McCoy as the company's chairman and CEO, replacing George W. Buckley who has resigned from the company to become the chairman, president and CEO of 3M Company. Brunswick also announced the election of Lawrence A. Zimmerman, SVP and CFO of Xerox Corp.to Brunswick's board of directors.
“We are fortunate to have an executive with Dusty's broad range of operating management and corporate experience to lead Brunswick,” said Manuel A. Fernandez, Brunswick's lead director. “Over the past five years, Dusty has nearly doubled the size of the boat group, acquired 13 boat brands and enhanced relationships with our dealer network. His background and operations experience make him uniquely qualified to take Brunswick to the next level.”
“Brunswick has a rich history, but an even more promising future,” McCoy said. “We have a sound strategy for moving forward. Our 26,000 employees worldwide have shown their passion for innovation and growth, and I am excited about this opportunity to lead them and our company and to further leverage our leading brands in marine, fitness, bowling and billiards.”
McCoy, 56, has served as vice president of Brunswick Corporation and president of the Brunswick Boat Group since its formation in 2000. He joined Brunswick in 1999 as vice president, general counsel and corporate secretary. Prior to joining Brunswick, McCoy served as executive vice president of Witco Corporation with operating responsibility for a variety of global businesses and functions. During his six years at Witco, McCoy also served as senior vice president, general counsel and corporate secretary. He earned a bachelor of arts degree from Eastern Kentucky University and his law degree from Chase Law School.
Brunswick also announced that Lawrence A. Zimmerman, senior vice president and chief financial officer of Xerox Corporation, has been elected to Brunswick's board of directors, effective as of the board's Feb. 7, 2006, meeting. He will stand for election at the company's 2007 annual meeting of shareholders. Zimmerman's election brings the number of board members to 11, nine of whom are independent directors.
A respected and experienced executive, Zimmerman, 63, joined Xerox in 2002 and has been instrumental in the Stamford, Conn., company's recent turnaround efforts. Before his current duties, he spent more than 30 years with IBM where he held positions of increasing responsibility, including corporate controller and vice president of finance for IBM's Europe, Middle East and Africa operations. Prior to retiring from IBM, Zimmerman was vice president and chief financial officer of IBM's Server, Components and Technology Group, which at the time had annual sales of $34 billion