NEW CEO, CALLAWAY GOLF
Agent of change: If the fortunes of Callaway are a bellwether for the health of golf generally, then the talk of golf dying seems somewhat premature.
A smart buy: Brewer’s role at the head of the Carlsbad company has been bolstered by a very clever move in 2014 to pay $50million for a 20% stake in TopGolf – an investment that had nearly doubled in value two years later. New retail opportunities: TopGolf, which attracts non-golfers, has performed well even as the number of rounds played has fallen. This spreads the risk to Callaway and opens up a new channel to market, selling direct at shops within TopGolf facilities.