SEPT. 22 | FENDER | TRIBUTE
Fender’s Bill Schultz Passes
William Schultz, the man best known for turning around around the Fender name, passed away peacefully on Sept. 21 at his Scottsdale, Ariz. home. His death comes as a result of a 17-year battle with cancer. He was 80 years old.
William Schultz, the man best known for turning around around the Fender name, passed away peacefully on Sept. 21 at his Scottsdale, Ariz. home. His death comes as a result of a 17-year battle with cancer. He was 80 years old.
In 1985, Schultz led an employee-leveraged buyout of Fender Musical Instruments from then-owner CBS. Under CBS’s management, many considered the company’s quality and name in steady decline.
Schultz and his team set out to restore the glory of Fender, maker of the famous Stratocaster, Telecaster and Precision Bass guitar models. In the 20 years under his direction, Schultz and his team took Fender from a small general office and warehouse in Brea, Calif., to its current standing in the global marketplace
In April 2005, Schultz stepped down as CEO of Fender Musical Instruments Corp., giving the reins to then president and COO William Mendello. Schultz had also served as Fender’s chairman of the board. In the days to come, the FMIC board will name a successor.
“It is hard to imagine where Fender would be without the vision, passion and belief of Bill Schultz,” said Mendello, a long-time friend of Schultz. “He led one of the greatest turnarounds
in American business history, and I will always be inspired by his leadership, his role as a guiding force in the success of Fender and his unwavering friendship throughout the years.”
Schultz is survived by his wife of 61 years, Mary Jane Schultz, and his children Kathi Knop and Karen Thomas and their families. The Schultz family will hold a private memorial service in the coming days for immediate family. It has been requested that flowers not be sent. In lieu of flowers, the Schultz Family will be providing a list of charities that pay respect to Schultz’s life, as well as respect the family’s wishes.
For more information, please visit fender.com/billschultz/.