Callaway Golf Company (NYSE:ELY) has announced that Chairman and CEO William C. Baker, 71, will take on additional operational duties as part of a company reorganization begun in August. Effective immediately, Patrice Hutin has resigned from his position as president and chief operating officer and Mr. Baker will assume those duties.
Mr Hutin had held these posts for just over twelve months, having been appointed by previous CEO, Ron Drapeau.
Ronald Beard, lead independent director on the Callaway Golf board, said the board of directors unanimously approved the changes. The moves are the latest in a series that began with the board’s appointment of Mr. Baker as chairman and CEO in August following the resignation of Ronald Drapeau.
“Mr. Baker is fully up to speed on all the operational areas at Callaway Golf,” said Mr. Beard, “and the Board has confidence in his vision for the future as well as his ability to immediately carry out these additional duties. We are satisfied that the senior management team currently in place is strong and capable and we anticipate no further executive changes at this time.”
Commented Mr. Baker, “We certainly appreciate the contributions that Patrice made to Callaway Golf in the years he was with us. He is a very talented executive who instituted a number of successful operational initiatives that should contribute to our efficiencies.
“Patrice has seen the organizational change as an opportunity to return to Europe to reunite with his family and pursue various business opportunities, and we all wish him good health and much success in whatever path he chooses.”
Callaway Golf Company www.callawaygolf.com
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