Callaway Golf Company (NYSE:ELY) today announced that Bob Penicka will be appointed s President and Chief Operating Officer of Top-Flite(R) Golf Company, a wholly-owned subsidiary of Callaway Golf, upon the completion of the acquisition of Top-Flite’s assets later this month. Mr. Penicka, 41, who joined Callaway Golf in 1997, had most recently been Executive Vice President of Manufacturing in golf club and golf ball operations since June of 2001.
Callaway Golf received approval from the U.S. Bankruptcy Court in Wilmington, Delaware, to acquire the assets of Top-Flite Golf Company on September 4, 2003. Closing is expected to occur near the middle of September.
“This is a logical transition for an experienced Callaway Golf leader,” said Ron Drapeau, Chairman, President and CEO of Callaway Golf. “As a key member of our senior management team, Bob has demonstrated his knowledge of the industry and his ability to take on new challenges. I am confident that he and the rest of the Top-Flite management team will maximize our opportunities with this acquisition.”
“I am honored to take on the new responsibilities of President and COO for the Top-Flite subsidiary,” Mr. Penicka said. “I welcome the opportunity to work with the dedicated and talented team of professionals at Top-Flite to build on the great tradition of the
Company and on the powerful Top-Flite brands.”
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