Chip Brewer has been appointed president and chief executive officer of Callaway Golf Company, effective March 5, the company announced Monday.
Brewer has been with Adams Golf since 1998 and has served as its president and CEO since 2002.
'Having been around golf my entire life, I know Callaway and its products very well and I am very excited about joining such an iconic company and being part of its great heritage,' Brewer said. 'There is a lot of opportunity ahead for Callaway and I look forward to working with the board and senior management team to build upon the strength of its brands to restore profitability and increase shareholder value.'
The selection of Brewer culminates an extensive search that included more than 50 candidates.
'After a very thorough search, we believe that we have selected the ideal candidate to lead us through the next chapter at Callaway,' said Ronald S. Beard, chairman of the Board of Directors. 'Chip has extensive knowledge of all facets of the golf business, particularly in the sales and marketing area, and has a real passion for the game of golf. Chip also has great relationships with customers and others in the golf industry and he has done a great job turning around and leading Adams Golf. We believe he is the right leader to entrust with our valuable brands and the board looks forward to working with him to restore profitability and increase shareholder value.'
Tony Thornley, who has served as interim president and CEO since June 2011, will resign from his interim positions on March 5, but will continue to serve on the Board of Directors. It is expected that Brewer will be appointed to the board once he officially joins the company.
'After having had the opportunity to serve as CEO during this transition period, I am certain we have selected the right candidate,' Thornley said. 'Chip has the right mix of leadership skills and experience to complement the company's two main strengths, namely its people and its leading golf club and golf ball technology. I believe that he has the insight and ability to build upon these strengths and have an immediate impact upon the company and its recovery.'