Callaway Golf name new CEO

CARLSBAD, Calif. — Callaway Golf Company has appointed Chip Brewer as president and CEO, effective March 5. 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 of directors once he officially joins the company.

"After a very thorough search, we believe that we have selected the ideal candidate to lead us through the next chapter at Callaway," commented Ronald 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."

Brewer has been with Adams Golf since 1998 and has served as its president and CEO since 2002. He has an undergraduate degree in economics from the College of William and Mary and has an MBA degree from Harvard University.