Bavan M. Holloway Named to Board of Directors of Callaway Golf Company

Rhea-AI Summary

Callaway Golf Company (NYSE: ELY) has expanded its Board of Directors to thirteen members with the appointment of Bavan M. Holloway. Holloway brings over 30 years of financial and audit experience, having served in senior roles at Boeing and KPMG. She is expected to enhance Board capabilities as Callaway continues its growth beyond traditional golf equipment. Holloway will be up for election for a full term at the 2022 Annual Meeting. Currently, 11 of the 13 Board members are classified as independent, in line with company bylaws.

Positive

• Bavan M. Holloway's extensive expertise in finance and auditing is expected to strengthen the Board.
• The expansion of the Board to thirteen members supports Callaway's growth strategy.

Negative

• None.

CARLSBAD, Calif., Dec. 6, 2021 /PRNewswire/ -- Callaway Golf Company (the "Company") (NYSE:ELY) today announced that it has increased the size of the Company's Board of Directors from twelve to thirteen members, and that Bavan M. Holloway has been appointed to the Board.  She will begin serving immediately and will stand for election for a full one-year term at the Company's 2022 Annual Meeting of Shareholders.

Ms. Holloway has over 30 years of broad finance and audit experience in complex and highly regulated business environments.  She previously served as Vice President of Corporate Audit for The Boeing Company, among other senior finance roles, until her retirement in April 2020. Prior to joining Boeing in May 2002, Ms. Holloway spent 16 years at KPMG LLP primarily serving financial clients in Chicago and New York. She currently serves on the boards of directors of T-Mobile US, Inc. and TPI Composites Inc.  Ms. Holloway holds a bachelor's degree in business administration from the University of Tulsa and a master's degree in financial markets and trading from the Illinois Institute of Technology.  In October 2021, Ms. Holloway also received her CERT Certificate in Cybersecurity Oversight from the Carnegie Mellon University Software Engineering Institute.

"We look forward to Bavan joining our board," commented John F. Lundgren, Chairman of the Board of Directors of Callaway Golf Company.  "She is an exceptional talent with vast knowledge and expertise in auditing and finance, and we are confident that her experiences and leadership will be invaluable to Callaway's ongoing success."

"I'm extremely pleased to welcome Bavan to the Callaway team," said Chip Brewer, President and Chief Executive Officer of Callaway Golf Company.  "With the company continuing to grow rapidly and expand beyond the traditional golf equipment space, we are excited to welcome a new director with such strong experience and financial expertise.  Bavan will further strengthen what I believe is already a very impressive and productive board."

The addition of Ms. Holloway expands the Board to a total of thirteen members, including John F. Lundgren (Chairman), Erik J Anderson (Vice Chairman), Samuel H. Armacost, Scott H. Baxter, Oliver G. ("Chip") Brewer III, Thomas G. Dundon, Laura J. Flanagan, Russell L. Fleischer, Scott M. Marimow, Adebayo O. Ogunlesi, Linda B. Segre and Anthony S. Thornley.  The Company's Bylaws mandate that the Company's Board consist of not less than six nor more than fifteen members, of which the substantial majority must be independent.  With the addition of Ms. Holloway as an independent director, eleven of the thirteen Board members qualify as independent under applicable standards.  For more on the Company's Board of Directors, visit the Investor Relations section of the Company's website at http://ir.callawaygolf.com/.

About Callaway Golf Company
Callaway Golf Company (NYSE: ELY) is an unrivaled tech-enabled golf company delivering leading golf equipment, apparel and entertainment, with a portfolio of global brands including Callaway Golf, Topgolf, Odyssey, OGIO, TravisMathew and Jack Wolfskin. Through an unwavering commitment to innovation, Callaway manufactures and sells premium golf clubs, golf balls, golf and lifestyle bags, golf and lifestyle apparel and other accessories, and provides world-class golf entertainment experiences through Topgolf, its wholly-owned subsidiary. For more information please visit www.callawaygolf.com, www.topgolf.com, www.odysseygolf.com, www.OGIO.com, www.travismathew.com, and www.jack-wolfskin.com.

Contacts:	Brian Lynch
	Lauren Scott
	(760) 931-1771

 

 

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SOURCE Callaway Golf Company

FAQ

Who is Bavan M. Holloway, and what experience does she bring to Callaway Golf Company?

Bavan M. Holloway has over 30 years of finance and audit experience, previously serving as Vice President of Corporate Audit at Boeing and working at KPMG.

What is the significance of expanding the Board of Directors at Callaway Golf Company?

Expanding the Board allows for broader perspectives and expertise, which can aid in strategic decision-making as the company grows.

When will Bavan M. Holloway stand for election for a full term?

Bavan M. Holloway will stand for election for a full term at the Company's 2022 Annual Meeting of Shareholders.

How many independent directors are there on the Board of Callaway Golf Company?

With the addition of Bavan M. Holloway, there are now 11 independent directors out of 13 total members on Callaway's Board.