Ely Callaway Steps Down


Ely Callaway at the podium81-year-old Ely Callaway has resigned as chief executive officer and president of his namesake, Callaway Golf Co.
Callaway, the company's founder, said his recent health concerns were the main reason for his decision to retire.
Callaway underwent gall bladder surgery in April. During the procedure doctors found a tumor on his pancreas.
Callaway's replacement as CEO and president will be Ron Drapeau who served as senior executive vice president of manufacturing.
'In my opinion, Callaway Golf deserves a healthy and qualified, full-time CEO right now,'' Callaway said.
Callaway had planned to give up control of the day-to-day operations of the company later this year. Callaway will remain chairman of the board. The 54-year-old Drapeau will take over effective immediately.
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