Norman Named Chairman of MacGregor Golf

October 24, 2007

Greg Norman has been named chairman of MacGregor Golf. According to an article in Golf Week Business,

The move culminates a leadership change that began in July when Norman and other board members relieved MacGregor CEO and majority shareholder Barry Schneider of his operational duties and began a strategic review of the Albany, Ga.-based clubmaking enterprise.

Norman’s appointment coincides with Schneider’s exit from the company. Schneider has relinquished his remaining roles and “surrendered his ownership share to MacGregor,” according to a company official. In addition, Norman has helped lead a recapitalization of MacGregor along with two existing investors. That effort was designed to strengthen the company’s balance sheet, give MacGregor greater financial flexibility and provide resources for continued growth.

Norman says that he will be involved in every aspect of the business, “from cosmetics of the products to R&D to decisions on marketing and the overall strategy of the company.”

I think MacGregor’s going to come back in a big way.