Company to change ticker to MODG,
reflecting its leadership in the much larger,
more dynamic and inclusive Modern Golf ecosystem
CARLSBAD, Calif. ,
Aug. 24,
2022 /PRNewswire/ -- Callaway Golf Company
(NYSE: ELY) (the "Company") announced today plans to change its
corporate name to Topgolf Callaway Brands Corp. ("Topgolf Callaway
Brands"). Following the Company's merger with Topgolf in 2021, the
name change reflects the Company's dynamic brand portfolio that has
unmatched scale and reach across the full Modern Golf and active
lifestyle ecosystem, including on- and off-course golf.
"We are excited to introduce Topgolf Callaway Brands, which
better acknowledges our long-term strategic path forward, while
emphasizing our unique and dominant leadership in the Modern Golf
space," commented Chip Brewer,
President and Chief Executive Officer of the Company. "With the
change, our new corporate identity will reinforce the opportunities
that are anchored in our strong heritage business and at the same
time build important awareness for our strategic shift towards
exciting new ventures in the Modern Golf and active lifestyle
segments."
Mr. Brewer continued, "We believe that Topgolf Callaway Brands
simultaneously communicates robust growth and change along with
stability and strength."
The Company expects the corporate name change to be effective on
or about September 6, 2022. In
connection with the change, effective on or about September 7, 2022, the Company also intends to
change its ticker symbol on the New York Stock Exchange from "ELY"
to "MODG" to reflect the Company's leadership position in the
Modern Golf ecosystem.
Following the corporate name change, each of the Company's
brands will retain their unique identities and go-to market
strategies. Topgolf Callaway Brands will continue to be led by the
current Callaway Golf Company management team.
About Callaway Golf Company (The future Topgolf Callaway
Brands Corp.)
Callaway Golf Company, which is changing
its name to Topgolf Callaway Brands Corp., 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, OGIO, Jack Wolfskin, and World
Golf Tour ("WGT"). "Modern Golf" is the dynamic and inclusive
ecosystem that includes both on-course and off-course golf. For
more information, please visit ir.callawaygolf.com.
Forward-Looking Statements
This press release contains forward-looking statements as
defined under the Private Securities Litigation Reform Act of 1995.
These statements include the Company's expectation of the effective
date of the name change; the Company's intention for its common
shares to continue to be listed for trading on the New York Stock
Exchange under the new ticker symbol "MODG" beginning on or about
September 7, 2022, and other
statements regarding the Company's "expectations," "beliefs,"
"hopes," "intentions," "strategies," or the like. These statements
are based upon current information and expectations and involve
unknown risks, uncertainties, assumptions, and other factors, many
of which are out of the Company's control and difficult to
forecast, which could cause actual results to differ materially
from the forward-looking statements. 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, 2021, 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.
Contact:
Patrick Burke
760-931-1771
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SOURCE Callaway Golf Company
