Issue link: https://read.dmtmag.com/i/570649
www.BoatingIndustry.com 16 | Boating Industry | October 2015 MOVER & SHAKER OF THE YEAR DUSTY MCCOY Chairman and CEO, Brunswick Corp. Lake Forest, Ill. IN THE DARKEST DAYS of the industry crash, as dealers and manufacturers were disappearing across the country, some thought that it was only a matter of time before the biggest of them all followed suit. Yet despite its struggles at the time, a leaner Bruns- wick Corp. survived and now sits as a stronger, more profi table company than it was before the recession. The most important factor in Brunswick's survival was the realization that this was no short-term issue. "We were very realistic about the situation we were in and what was happening in the global eco- nomic environment," said chairman and CEO Dusty McCoy. "We didn't believe it was going to be short- lived, we didn't believe there would be some miracle that would cause it to come back." From the time McCoy took over as CEO in 2005, the Brunswick management team was working to make the company leaner and more effi cient in ex- pectation of a coming slowdown in the industry due to overarching economic conditions. "I always say that boat dealers and boat buyers are some of the smartest people in the world and they were beginning to feel that the economy was poten- tially subject to a pullback," McCoy said. The company started seeing those indications in the fourth quarter of 2005 and spent 2006 and 2007 improving effi ciency and reducing costs – and then the housing bubble burst and the 2008 crash was far worse than anyone had expected. "The main thing I wish I knew when I started in this role was that we were going to have a reces- sion unequaled in its force and duration a couple of years after I got going," McCoy said. "Had we known that in 2005 we could have done a lot of things less abruptly than we needed to to position the company for the future." Surviving the recession meant making tough choices from closing plants to reducing the workforce and eliminating brands and models. From nearly 30 boat brands, Brunswick now produces 14. In the end, Brunswick cut more than $400 million Now in its fi fth year, the Movers & Shakers awards recognize innovative leaders, people unafraid to take chances to improve the industry. Since 2011, we've recognized dozens of those Movers & Shak- ers, yet this year we had the most nominees ever for the program – and arguably the strongest as the debates over this year's selections were among the most contentious in the history of the program. In just fi ve short years, we've seen great changes in the industry and that's refl ected in this year's honorees. When the program started, we were still suffering the effects of the recession and its tremendous impact on boating. Now, we're in what appears to be our fourth straight year of industry growth. From writing about survival, we've gone to writing about robust growth in our Movers & Shakers. The 11 individuals (and one fam- ily) profi led here are leading their teams and the entire industry to growth through product innovations, creative outreach and ambi- tious expansion. On the following pages, we recognize our Mover & Shaker of the Year – Dusty McCoy, chairman and CEO of Brunswick – and 11 other innovators. BOATING INDUSTRY 2015 BY JONATHAN SWEET 16 | Boating Industry | October 2015