Callaway 2011 Annual Report Download - page 4

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2011 ANNUAL REPORT
Above all we are totally committed to driving sales throughout our core businesses by grow-
ing our share of the market. This is the key to our future success and an overriding principal
that guided our appointment of Chip Brewer as Callaway’s next CEO. Chip is a proven leader
in the golf industry, where he has held executive positions since 1998. During his long tenure
as CEO of Adams Golf, Chip earned a proven track record of growing market share and in-
creasing shareholder value through the development and introduction of technology-driven
products. His values and ambitions match up very well with our own and the Board was
extremely pleased to announce his arrival.
In my time as CEO I have been particularly impressed by the quality and dedication of our
2000 employees. They have seen tremendous change over the past few years but they are
singularly focused on powering Callaway back to a leadership position in the golf equipment
industry. I am condent that the measures we have taken and the new structure and leader-
ship that is now in place will get us there. Once again, thank you for your patience and faith
in Callaway Golf.
Sincerely,
ANTHONY S. THORNLEY
Director and Former Interim CEO
March 26, 2012