TOPGOLF CALLAWAY BRANDS ANNOUNCES RESIGNATION OF ARTIE STARRS, CEO OF TOPGOLF
Topgolf Callaway Brands (NYSE: MODG) announced the resignation of Artie Starrs, CEO of Topgolf, who will remain with the company through September 2025 to ensure a smooth transition. Starrs has accepted another CEO position at an undisclosed company.
CEO Chip Brewer noted positive Q2 financial results and improving same venue sales trends at Topgolf. The company is actively conducting an executive search for Starrs' replacement. Importantly, the leadership change impacts the timeline of Topgolf's planned separation, with a potential spin-off now likely delayed until 2026, after a new CEO is appointed. The company remains committed to pursuing either a spin-off or sale of the Topgolf business.
Topgolf Callaway Brands (NYSE: MODG) ha annunciato le dimissioni di Artie Starrs, CEO di Topgolf, che resterà in azienda fino a settembre 2025 per garantire una transizione fluida. Starrs ha accettato un'altra posizione da CEO in una società non divulgata.
Il CEO Chip Brewer ha evidenziato risultati finanziari positivi nel secondo trimestre e un miglioramento delle vendite negli stessi locali di Topgolf. L'azienda sta attivamente conducendo una ricerca per trovare il sostituto di Starrs. È importante sottolineare che il cambiamento di leadership influirà sui tempi della separazione pianificata di Topgolf, con un possibile spin-off ora probabilmente posticipato al 2026, dopo la nomina del nuovo CEO. L'azienda rimane impegnata a perseguire sia lo spin-off che la vendita del business Topgolf.
Topgolf Callaway Brands (NYSE: MODG) anunció la renuncia de Artie Starrs, CEO de Topgolf, quien permanecerá en la empresa hasta septiembre de 2025 para asegurar una transición sin contratiempos. Starrs ha aceptado otro puesto de CEO en una empresa no revelada.
El CEO Chip Brewer destacó los resultados financieros positivos del segundo trimestre y la mejora en las ventas en los mismos locales de Topgolf. La compañía está llevando a cabo una búsqueda activa para reemplazar a Starrs. Es importante señalar que el cambio en el liderazgo afecta el calendario de la separación planificada de Topgolf, con una posible escisión ahora probablemente retrasada hasta 2026, después de que se nombre un nuevo CEO. La empresa sigue comprometida a seguir adelante con la escisión o la venta del negocio de Topgolf.
Topgolf Callaway Brands (NYSE: MODG)는 Artie Starrs Topgolf CEO의 사임을 발표했으며, 원활한 인수인계를 위해 2025년 9월까지 회사에 남을 예정입니다. Starrs는 비공개 회사에서 다른 CEO 직책을 수락했습니다.
CEO Chip Brewer는 2분기 긍정적인 재무 실적과 Topgolf의 동일 매장 매출 개선 추세를 언급했습니다. 회사는 Starrs의 후임자 선정을 적극적으로 진행 중입니다. 중요한 점은 리더십 변화로 인해 Topgolf의 분사 계획 일정에 영향이 있어, 새로운 CEO 임명 후 분사가 2026년으로 연기될 가능성이 높아졌다는 것입니다. 회사는 Topgolf 사업의 분사 또는 매각을 계속 추진할 의지가 있습니다.
Topgolf Callaway Brands (NYSE : MODG) a annoncé la démission de Artie Starrs, PDG de Topgolf, qui restera au sein de l'entreprise jusqu'en septembre 2025 afin d'assurer une transition en douceur. Starrs a accepté un autre poste de PDG dans une société non divulguée.
Le PDG Chip Brewer a souligné les résultats financiers positifs du deuxième trimestre ainsi que l'amélioration des tendances des ventes sur les mêmes sites de Topgolf. L'entreprise mène activement une recherche de cadre pour remplacer Starrs. Il est important de noter que ce changement de direction affecte le calendrier de la séparation prévue de Topgolf, avec une possible scission désormais probablement reportée à 2026, après la nomination d'un nouveau PDG. L'entreprise reste engagée à poursuivre soit une scission, soit une vente de l'activité Topgolf.
Topgolf Callaway Brands (NYSE: MODG) gab den Rücktritt von Artie Starrs, CEO von Topgolf, bekannt, der dem Unternehmen bis September 2025 erhalten bleibt, um einen reibungslosen Übergang zu gewährleisten. Starrs hat eine weitere CEO-Position bei einem nicht genannten Unternehmen angenommen.
CEO Chip Brewer hob die positiven Finanzergebnisse für das zweite Quartal und die Verbesserung der Umsätze an denselben Standorten von Topgolf hervor. Das Unternehmen führt aktiv eine Suche nach Starrs' Nachfolger durch. Wichtig ist, dass der Führungswechsel den Zeitplan der geplanten Abspaltung von Topgolf beeinflusst, wobei eine mögliche Ausgliederung nun wahrscheinlich bis 2026 verschoben wird, nachdem ein neuer CEO ernannt wurde. Das Unternehmen bleibt verpflichtet, entweder eine Ausgliederung oder den Verkauf des Topgolf-Geschäfts zu verfolgen.
- Improving same venue sales trends and positive Q2 financial results at Topgolf
- Orderly transition period with current CEO staying through September 2025
- Company maintains commitment to strategic separation of Topgolf business
- Unexpected departure of Topgolf CEO creates leadership uncertainty
- Planned Topgolf separation likely delayed until 2026, later than previously expected
- Extended timeline for finding and integrating new CEO could impact operational momentum
"We are pleased with Topgolf's second quarter financial results and improving same venue sales trends, which reflect the significant actions taken this year," commented Chip Brewer, President and CEO of Topgolf Callaway Brands. "We look forward to providing more detail when we report our Q2 earnings next week. We also thank Artie for his leadership and many contributions to Topgolf and wish him well in his new endeavor. Artie's departure does not affect our strategic direction or commitment to separating Topgolf, and we are still pursuing a spin-off or sale of Topgolf. Given this development, it is likely that a spin-off transaction would not occur until 2026, after a new CEO is in place."
Forward-Looking Statements
Statements used in this press release that relate to future plans, events, performance, prospects, or growth opportunities, including statements relating to: Mr. Starrs' planned departure date; the search for a replacement for Mr. Starrs, the appointment of a new Topgolf CEO and the timing thereof; the timing and nature of the Company's planned separation of the Topgolf business from its other business units, and statements of belief and any statement of assumptions underlying any of the foregoing, are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. These statements are based upon current information and expectations. Accurately estimating the forward-looking statements is based upon various risks and unknowns, including uncertainty regarding global economic conditions, including relating to tariffs and inflation, decreases in consumer demand and spending, and any severe or prolonged economic downturn or economic recession; our ability to grow same venue sales; our ability to successfully execute planned and potential transactions, including the planned separation of Topgolf, and the potential to realize the expected benefits of such transaction in the expected timeframe or at all; our ability to satisfy the closing conditions to complete such transaction on a timely basis or at all; and our ability to identify and attract replacement executive candidates. For additional information concerning these and other risks and uncertainties that could affect these statements and the Company's business, see the Company's Annual Report on Form 10-K for the year ended December 31, 2024 as well as other risks and uncertainties detailed from time to time in the Company's reports on Forms 10-K, 10-Q and 8-K subsequently filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
About Topgolf Callaway Brands
Topgolf Callaway Brands Corp. (NYSE: MODG) is an unrivaled tech-enabled Modern Golf and active lifestyle company delivering leading golf equipment, apparel, and entertainment, with a portfolio of global brands including Topgolf, Callaway Golf, TravisMathew, Toptracer, Odyssey, and OGIO. "Modern Golf" is the dynamic and inclusive ecosystem that includes both on-course and off-course golf. For more information, please visit https://www.topgolfcallawaybrands.com.
Investor Contact
Katina Metzidakis
invrelations@tcbrands.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/topgolf-callaway-brands-announces-resignation-of-artie-starrs-ceo-of-topgolf-302519081.html
SOURCE Topgolf Callaway Brands Corp.
FAQ
Why is Artie Starrs leaving Topgolf Callaway Brands (NYSE: MODG)?
How does the CEO resignation affect Topgolf's planned separation from Callaway?
What is Topgolf Callaway Brands' current business performance?
Who will replace Artie Starrs as Topgolf CEO?
When will Topgolf Callaway Brands announce Q2 2025 earnings?
