Callaway 1999 Annual Report Download - page 16

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14 C ALLAWAY GOLF COMPANY
Since 1994, your Company and I have been the beneficiaries of wise advice and sound guidance
offered by William A. Schreyer, the Chairman Emeritus of Merrill Lynch & Co., Inc. His recognized
expertise and vast experience in financial, business and other matters has made him an invaluable
member of the Board of Directors. More importantly, his charm, friendliness and cheery demeanor
will be missed by all of us, including me in particular. When Bill arrived at one of our Board Meetings,
he added so much, in every way.
On May 2, 2000, Bill will be performing his last official acts as a Director of Callaway Golf Company.
He has chosen, for personal reasons, to retire from the Board.
In addition to his service on the Callaway Golf Board, Bill has served as Chairman of the Board and
Chief Executive Officer of Merrill Lynch and as a Director on the Boards of Deere & Company,
Schering-Plough Corporation, and Iridium World Communications Ltd. He is a Trustee, International
Councillor, and Chairman of the Executive Committee of the Center for Strategic and International
Studies, a Washington, D.C.-based bipartisan public policy institute. He is a Member Emeritus of the
Board of Trustees of his alma mater, Pennsylvania State University.
We will miss Bill at our Board Meetings, but we hope and expect that he will remain closely tied to
the Company.
Thanks, Bill. Thanks for everything.
Ely Callaway
A SPECIAL NOTE FROM THE CHAIRMAN ABOUT WILLIAM A. SCHREYER