Callaway announced that their President and CEO, George Fellows, resigned stating personal reasons. Fellows has been at the head of Callaway since 2005, his mission was focused on expansion, product cost reduction, and help golf return to the Olympics. Along with his resignation came their second quarter results and which posted a net loss of $55 million.
With this new development, Callaway has had to appoint an interim president. The honor has gone to Callaway Golf board member Anthony Thornley. A great fit for Callaway not only has he been invested in the company while sitting on their board for the past 6 years, he is also an avid golfer, gaming a single digit handicap.
For Thornley, it’s not necessarily the best time to take the lead at a company who posted an unfortunate net loss in their second quarter. However, the changes you can expect to see Thornley make is to first focus on marketing where they have been outdone by some of their competitors in recent years. There is also expected to be a round of layoffs as they reorganize. Thornly will bring in his own leadership skills and style to Callaway in hopes to reboot the company.
Callaway Golf is in no danger of leaving the golf world anytime soon it has been a staple in golf world ever since the introduction of the Big Bertha. This July marks the 10th anniversary of the passing of Callaway founder Ely Callaway.
