Below is the full transcript from YouTube but TLDR: CEO learned nothing from the backlash and is continuing to defend their actions.

What we’ve done is to reach out thoughtfully and respectively to a handful of companies whose guitars come extremely close to replicating the iconic Fender Stratacaster design.

That is an unmistakable body shape, signature curves, unmistakable spirit that Leo Fender from his own head and his own heart and his team poured into their souls more than seven years ago into this product. And let’s also be very specific. We’re talking specifically about the Stratacaster because that’s what this is really about. Calling it simply the S style or the S shape is an attempt to diminish and whitewash the immeasurable gamechanging contribution that Leo and his team made to the entire industry that all of us have built so much of our success and careers around.

A contribution that has blessed every single one of us in this room and millions of players around the world. We are not going to let the legacy be erased, nor are we going to let it be diluted. Words matter, shapes matter, heritage matter, and protecting it matters. This is not about every double cutaway guitar on the market. It’s not what we’re talking about here. It’s focused on products that closely copy the Stratacaster’s distinctive look that they can create real confusion for players in the marketplace. And it’s important to understand that this effort stems directly from the recent European Union’s court ruling. So, our current conversations are centered on products being made, marketed, or sold in the European Union, not here in the Americas.

So, here’s what this means for you, for our dealers, for the musicians you serve, and for every end user and collector out there. Nothing changes. Business continues exactly as usual. No impact on how we work together. No changes to our dealer network and Fender has no intention of going after artists, players, collectors, or anyone who simply loves to make music. To the contrary, we are protecting those players who play Fender, who buy Fender, who love Fender, who collect Fender, and who continue to invest in Fender. It has always been about protecting the designs that inspire them.

We are approaching it this way, the Fender way with collaboration. Our preference is practical, reasonable solutions. Design modifications were needed. Generous transition periods to sell through existing inventory. No inventory destruction. Those comments were unfortunate. We are not asking anyone to destroy inventory. No immediate financial demands. This is a work in progress and we want to work together with everyone because we believe that innovation is strongest when brands create their own distinctive voices rather than closely copied icons that have defined our industry for generations.

All of our dealers know this. You don’t share the same sign in the front of the store. You all have different philosophies about customer services, product assortment, the customers that you’re going after. These are refined over years and they define your store. And in my opinion, you own that. Okay? That is in the same spirit of how we want to operate.

At the core, it’s about our stewardship. It’s about honoring the originality, the creativity, and the pure passion that this man, Leo Fender, who did not play guitars, infused into every drawing board, every prototype, every guitar that left his shop. It’s about making sure that the Stratacaster, the instrument that literally changed the sound, the tone of music forever, remains instantly recognizable as Fender for generations and generations to come. We do not just do this for ourselves, but for all of you, for every player, for every collector, and the future of this incredible industry that all of us love and choose to be in because it matters. As the number one electric guitar bass amp brand in the world, Fender will lead the market. We must lead the market.

On a different note, but a very related note, I’ve heard a lot of conversation and some unfortunate and inaccurate talk about the owners of Fender Music Corporation. Company’s called Surfco Pacific and they’re based out of Hawaii. A lot of loose talk about private equity, you know, that’s the new swear word these days. And there’s a lot of bad guys out there truly. But let me clarify this for you with a story that fills me with not fear but genuine pride and gratitude. Something that gets left out in all these conversations.

Surfco Pacific is one of Hawaii’s largest and most respectful family-owned companies. It was founded 107 years ago in 1919 by a remarkable young 17-year-old Japanese immigrant named Peter Fukunaga. Gives me shivers to talk about it. With nothing but determination and a small $1,500 loan, he bought a humble two-car garage on the north shore of Oahu in Halawa. From those modest beginnings, through vision, hard work, and generations of dedication, it has grown into a thriving enterprise. Something hopefully we all still call the American dream.

The Fukunaga family has always had music in their hearts. Servco entered the musical instruments business in 1937. By the 1950s, they became an official regional dealer and distributor for Leo Fender himself. Early on in the exciting days of Fender, the Hawaiian connection runs deep for Fender and we are proud of it. Remember, one of Leo’s most important collaborators was Freddie Tavares, the brilliant Hawaiian musician from Paia, Maui, who played in the orchestras at the Royal Hawaiian Hotel before joining Fender and helping shape the very Stratacaster we’re talking about today.

In 1985, when CBS was ready to walk from Fender, we all remember that. Surfco stepped in in a big way. They led and they joined a small investor group, mainly Japanese dealers and manufacturers, to back industry legend Bill Schultz with a $12.5 million management buyout. They did not just invest in the company. They helped save and revive an American icon. They believed in Fender’s soul when others did not.

That’s what the Fukunaga family and Servco did long before any of us were born. They were there giving everything. So today, Servco remains a family-run company and the majority owner of Fender Musical Instruments Corporation. Many members of the Fukunaga family play guitar themselves, including their executive chairman, Mr. Mark Fukunaga, and their current CEO, Peter Dames. This isn’t detached or distant ownership. This is a multi-generational stewardship built on respect, love for music, and deep commitment to protecting Leo Fender’s legacy while making sure Fender continues to innovate and to inspire the world. They do this because music matters and guitars matter and Fender matters.

So, that my friends brings us to the real reason that we’re here in our own way. We all have our own stories, right? Music has the power to mend a broken heart, to bring strangers together in harmony, to give voice to voiceless people, and to soundtrack the most important moments of our lives. From the moment we’re inside our mothers and hear the heartbeat to the moment we go on to whatever’s out there, music is with us always and it matters.

A single Fender guitar in the hands of a young boy in a garage, a teenage girl dreaming of the stage, or a seasoned player pouring out their soul live in concert — that is pure magic. We know it. It changes lives.

In 1996, when my life was not working out particularly well, it was a Fender guitar that changed my life. When I was a young man trying to find meaning, I know what that means and how important his guitars are. I’ve been playing music my whole life. I’m not an exceptional player by any stretch. I’m a songwriter. I’m a strummer. My first guitar was a 1969 made-in-Japan reissue thin liner that I bought here in the US. I still have that guitar today and I love that guitar. I play that guitar for my little daughters.

I know what it means and it matters. Fender guitars are not just instruments. They are gateways of expression, to community, to joy. From the stages of the world’s greatest arenas to living rooms, campfires, homes, street corners, and beyond. Fender is there giving a voice to the dreams.

So you, our dealers, are the vital bridge. You put the guitars into the players’ hands. You all have your fingerprint, your unique style — I would say your unique proprietary shape. Each one of you is different. Each one of you is out there making a difference. You nurture the next generation of musicians. You keep the spirit of Leo Fender alive in your communities every single day. And what you do matters more than you know.

So over these next two days, let’s celebrate that. Let’s celebrate that we’re not selling vacuum cleaners or computer chips, okay? It ain’t an easy business, but nothing’s easy. This is what we chose to do, and this is what we love, and this is what makes a freaking difference. That’s what all of us stand up for every day and believe in every day, all in our own ways. Okay, let’s learn from each other. Let’s get connected. Let’s share. Let’s get inspired and recharge our collective passion.

Fender team, specialty team, this crew here has poured their hearts into creating an incredible experience. I’ve never been more honored to work for these people in my life. That’s part of the reason for the fight. They put their hearts and everything into this incredible experience. And this is who we are at Fender and this is what we love to do. I want to wish everyone here an absolute epic Fender dealer meeting.

Please make new friendships, spark new ideas, laugh, learn, have a smoke — do it outside, please — and leave here even more fired up about the incredible work we do together.

Music has always had controversy. It’s always bumped shoulders. There’s always been discussion. We won’t run away from it. We’ll embrace it. That’s who we are.

So, I hope everybody walks away super stoked, super excited about this because when we play music, when we pick up a guitar, when we go out there and kick the ass out of an audience live in a show or play for our one-year-old daughter a song, the world gets a little brighter. So, when Fender guitars ring out, legends are truly born. And when we stand together — dealers, teams, our partners — the future of music is unstoppable.

Thank you so much. Let’s make some meaningful music together because music matters. And never forget, play guitar, play Fender. Thank you.