Callaway Takes Charge Again

Ely Callaway, chairman, founder and CEO of Callaway Golf, has re-assumed the role of president, casting doubt over the future of his appointed successor Chuck Yash.

In 1999, Yash was made president of the company and it was announced that he would take over as president when the octogenarian Callaway retired sometime this year.

But not only have those plans been ditched, but Ely Callaway has reclaimed the title of president from Yash, who has now been given the joint roles of vice-chairman of the board and senior executive president.

In words eerily similar to those which preceded the departure of Callaway's former right-hand man, Donald H Dye, the company said Yash would "immediately begin devoting his full time and attention" to leading a new task force "whose primary purpose will be to focus upon ways to encourage the growth of the game."

Yash launched the Callaway 'Rule 35' ball at the beginning of the year since when there have been mixed reviews, production problems and missed sales targets. In August, Callaway consolidated its club and ball operations.

Callaway has also formed a senior management committee which includes Ron Drapeau, senior executive vice-president of manufacturing; Richard Helmstetter, senior executive

vice-president of research and development; and Mick McCormick, executive vice-president of global sales.

Ely Callaway said: "Having consolidated our golf ball business into the management structure of our overall global golf club business three months ago, the directors and I believe that in this group we have assembled a very strong, talented and capable senior management team that can take full advantage of the Company's unusual opportunities."

He added that Yash had been repositioned to "grow the game", especially in relation to the company's non-conforming clubs in the United States. "With Chuck's knowledge of and vision for the game, his established reputation in the industry, and great leadership skills, we hope to be a strong force working to change attitudes - including attitudes on equipment - that might act as barriers to the growth of the game of golf in the United States.

"In order to give Chuck the time to devote to this unusual and important task, I will again assume the title of president of the company and will continue as CEO."

*The news was greeted enthusiastically on Wall Street where Callaway stock jumped a $1 per share (nearly 6 per cent) following the announcement.