Chip Brewer will be callaway’s new CEO

The Board of Directors, led by Tony Thornley and a search committee consists of independent directors, in addition to Spencer Stuart, a number one global executive search firm, conducted an extensive search that included a review of over 50 candidates such as a number with golf industry experience. "After a really thorough search, we presume that individuals have selected the perfect candidate to guide us with the next chapter at Callaway," commented TaylorMade RocketBallZ fairway wood  Ronald S. Beard, Chairman of the Board of Directors. "Chip has extensive expertise in all areas of the golf business, mainly in the advertising and marketing area, and it has a real love for golf. Chip boasts great relationships with customers and others in the golf industry and that he has been doing a fantastic job turning around and leading Adams Golf. The world thinks he or she is the correct leader to entrust with our valuable brands as well as the Board looks to utilizing him to revive profitability and increase shareholder value."

"After having the opportunity be CEO within this transition period, I know we now have selected the best candidate," added Tony Thornley. "Chip has got the right combination of leadership skills and experience to enhance their two main TaylorMade RocketBallZ Driver strengths, namely its people and its leading club and basketball technology. In my opinion he has got the insight and ability to build upon these strengths and also have a sudden impact upon the corporation and it is recovery."

"The Board is incredibly grateful to Tony Thornley for his dedicated stewardship with this transition period," continued Mr. Beard. "Having a real strong and effective discount golf clubs leader throughout the transition enabled the Board to accept necessary time and energy to conduct a comprehensive search and find the correct successor."

Mr. Brewer may be with Adams Golf since 1998 and it has served since it's President and Ceo since 2002. Mr. Brewer has an undergraduate degree in economics from the College of William and Mary and contains an MBA degree from Harvard University. Mr. Brewer features a low single digit handicap and is a member of the Pine Valley Club. Mr. Brewer and the family will probably be relocating for the San Diego area.