Fender Appoints New Chief Financial Officer — AV.technology
Matt Janopaul named CFO following Jim Broenen Retirement, after long stint at Fender’s majority shareholder Servco Pacific
Fender Musical Instruments Corporation (FMIC) announces the appointment of Matt Janopaul as Chief Financial Officer, who will report directly to Andy Mooney, Chief Executive Officer. Janopaul succeeds Jim Broenen who retired in December 2021 after a distinguished 15-year career with the company, with the past 13 years serving as CFO. With the transition from private equity to the long-term capital provided by Servco Pacific, Inc. (Servco), FMIC’s investor since 1985, Janopaul’s focus will be centred around key strategic growth initiatives. These include continuing to deliver growth consistent with culture-driven brands, optimisation of FMIC’s global footprint from a sales and supply standpoint, the development of a consumer-focused digital ecosystem that incorporates products and software from its recent acquisition of PreSonus.
“I am pleased to welcome Matt Janopaul as FMIC’s new Chief Financial Officer,” said Andy Mooney, FMIC CEO. “He has been a valued partner to the company for many years through his role initially at Weston Presidio, and more recently at Servco. Matt has extensive knowledge of FMIC’s history, current operations and future growth plans. His financial acumen, leadership experience and company knowledge will facilitate a smooth transition in FMIC’s finance function, and enable him to quickly contribute to FMIC’s world-class leadership team as we support the 16 million new players that have joined our community in the last two years.”
“One of my first comments to Fender’s Board of Directors upon joining the company in 2015 was: ‘For a company its size, the finance function way out-punches its weight class,” said Mooney. “Jim’s leadership of the finance department at FMIC has been exceptional. He built a world-class team that has guided the company through challenges, and set the stage for our current success. However, Jim does more than lead the finance function, much more. He’s been a trusted advisor to FMIC’s executive team in general, and to myself in particular. Every key decision made over the last six years was made with his counsel and guidance. Jim has developed many personal friendships over the years. I consider myself fortunate to be his friend, and believe our friendship will be lifelong. It’s been my privilege to have worked with him, and I wish him, his wife Gina, and his family my very best wishes for the future.”
Janopaul brings a unique perspective and longtime partnership to FMIC, joining from his most recent role as Managing Director of Servco Pacific Capital (SPC), the direct investment arm of Servco Pacific, Inc. (Servco), the largest for-profit private company in Hawaii. SPC’s largest investment to date is the majority ownership of FMIC. Since 2001, Janopaul has held various roles with Fender, ranging from investor and board member, to President and Chief Operating Officer. As COO, he was responsible for the daily operations of the company including accounting and finance, corporate development, IT, manufacturing and supply chain. Prior to joining Fender, Janopaul was a General Partner of Weston Presidio, a leading $3.3 billion private equity firm with offices in San Francisco and Boston, where he was actively involved in management buyouts, recapitalisations, leveraged consolidations and growth financings across the consumer, industrial, service and publishing sectors.
“We are all so thankful for Matt’s contributions to Servco. His leadership has played an important role in the unprecedented success of our business, including his work with FMIC through Servco Pacific Capital,” said Mark Fukunaga, Chairman and CEO of Servco. “Matt’s passion for the music industry and Fender’s success has always been clear, which makes us confident that this is the right move for Fender and Servco. We congratulate Matt, and look forward to working with him in his new role.”
“Over the past twenty years, I have cared deeply about Fender and its mission to support artists at every stage of their musical journey. What makes FMIC so special are the people throughout the organisation – from the factory floors in Corona and Ensenada to the global sales team – it is an amazing culture,” said Janopaul. “I look forward to the opportunity to work with Andy and Fender’s industry-leading executive team as well as join the talented finance organisation that Jim Broenen has built. This is an exciting time to be a part of this new future and the Company’s long-term roadmap of innovative products and digital offerings.”