Fender adds Bono, The Edge from U2 to its board

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by Associated Press

Associated Press

Posted on May 29, 2014 at 1:05 PM

Updated Thursday, May 29 at 3:01 PM

LOS ANGELES (AP) — Its guitars were played by rock legends from Jimi Hendrix to Bruce Springsteen. Now, Fender's board of directors is looking like the Rock and Roll Hall of Fame, too.

The guitar maker says it is adding Bono and The Edge of rock band U2 to its board.

The company says the two will add to the board because of their longtime experience in music and entertainment. The move also adds to the brand's rock credibility.

Fender, majority owned by investment firm TPG Growth, was formed in 1946. It is known for its iconic guitars, including the Stratocaster and Telecaster.

More musicians are being brought into the corporate world to bolster brands. Apple acquired Beats Electronics partly to add the cachet of hip-hop mogul Dr. Dre.

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