Chips & Putts: Callaway CEO Not Looking To Turn Around Company Only To Sell
Callaway Golf held its investor day yesterday, with CNBC's Tyler Mathisen noting after "years of declining sales and market share lows," the company has "returned not only to profitability but to a really commanding place in the business." Callaway Golf President & CEO Chip Brewer, when asked if he was turning the company around only to sell it off, said, "What we're really focused on is turning around this company and making it great again. ... There's no master exit plan at this point other than to restore the brand and the business to greatness" ("Power Lunch," CNBC, 5/6).
CONNECT FOUR: In Baltimore, Ryan McDonald reported the LPGA has signed DC-based Underwriters Laboratories as its "fourth top-tier sponsor" for the July 22-27 inaugural Int'l Crown tournament at Caves Valley Golf Club in Owings Mills, Md. Financial details of the partnership were not disclosed. Tournament Dir Rich Thomas said that the top sponsors, known as "ambassador partners, pay more than $100,000" (BIZJOURNALS.com, 5/6).
COMMUNITY OUTREACH: The PALM SPRINGS DESERT SUN notes the PGA Tour Humana Challenge will be one of the sponsors of the Salvation Army Golf Classic at Victoria Club in Riverside on May 19. The event in a statement said that the decision to sponsor the charity tourney in Riverside is part of its "efforts to embrace the entire Inland Empire region" (DESERTSUN.com, 5/7).
HOGAN'S HEROES: In Ft. Worth, Dickson & Kaskovich note Ben Hogan golf clubs "are launching a comeback." Perry Ellis Int'l and Eidolon Brands yesterday announced a deal to "introduce a new set of Ben Hogan-branded golf clubs in 2015, which would mark the first new Hogan clubs on the market in seven years." The Ben Hogan Golf Equipment Co. will be based in Ft. Worth "under the direction" of Eidolon President & CEO and former Ben Hogan Co. Marketing Dir Terry Koehler. He said that in "keeping with tradition," the emphasis will be "on producing high-quality irons" (FT. WORTH STAR-TELEGRAM, 5/7).