‘Fellows plots to get Callaway on course’ v8, issue 25, by Darrin Schwarz

George Fellows was the head of Revlon in the mid-to late 1990’s and now he’s the president and CEO of Callaway Golf. The company is no longer a powerhouse in the golf industry since the founder Ely Callaway passed away in 2001. In an effort to ‘right the ship’, Callaway is cutting 500 jobs (15% of workforce) intending to save $70 million over two years while spending $12 million in restructuring. He has already received several unsolicited bids to buyout the company but claims that possibility “nonsense”. Not only has Fellows moved into a completely different product realm, but he seems to have quite a challenge ahead of him. After an initial jump in stocks following the announcement of job lay-offs, Callaway has since dropped at the close of the market on Oct. 19. With the golf ball woes and cutbacks, and with the Nike SasQuatch ready to emerge, Callaway Golf better ‘grip it – n –rip it’.