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SEC FORM 4 SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940 		 
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
BEARD RONALD S
(Last) (First) (Middle)
(Street)
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
CALLAWAY GOLF CO /CA [ ELY ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/07/2003
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
NQ(1) 14.36 06/07/2003 A 6,000 06/07/2005 06/07/2013 Common Stock 6,000 $0 6,000 D
Explanation of Responses:
1. This is the reporting person's annual grant made under the 2001 Non-Employee Director Stock Option Plan, previously approved by the Company's shareholders.
Brian P. Lynch Attorney-in-Fact for Ronald S. Beard under a Limited Power of Attorney dated August 20, 2002 06/09/2003
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
 LIMITED POWER OF ATTORNEY


	KNOW ALL PERSONS BY THESE PRESENTS, that
the undersigned hereby constitutes, designates and appoints each of Steven
C. McCracken, Michael J. Rider and Brian P. Lynch, as the undersigned's
true and lawful attorneys-in-fact, with full power and authority to act
without the others on behalf of and as attorney for the undersigned, for
the following purposes:

1.	to execute for and on behalf of the
undersigned, in the undersigned's capacity as an officer and/or director of
Callaway Golf Company (the "Company"), any forms or documents required or
permitted in accordance with Section 16(a) of the Securities Exchange Act
of 1934 and the rules thereunder, as the same may now exist or hereafter be
amended, including Securities and Exchange Commission Forms 3, 4 and
5;

2.	to do and perform any and all acts for and on behalf of the
undersigned which may be necessary or desirable to complete and execute any
such forms or documents or any amendment or amendments thereto, and to file
such forms or documents with the Securities and Exchange Commission and any
stock exchange or similar authority; and

3.	to take any other action of
any type whatsoever in connection with the foregoing which, in the opinion
of such attorney-in-fact, may be of benefit to, in the best interest of, or
legally required by, the undersigned, it being understood that the forms or
documents executed by such attorney-in-fact on behalf of the undersigned
pursuant to this Limited Power of Attorney shall be in such form and shall
contain such terms and conditions as such attorney-in-fact may approve in
such attorney-in-fact's discretion.

	The undersigned hereby grants to
each such attorney-in-fact full power and authority to do and perform any
and every act and thing whatsoever requisite, necessary, or proper to be
done in the exercise of any of the rights and powers herein granted, as
fully as the undersigned might or could do if personally present, with full
power of substitution or revocation, hereby ratifying and confirming all
that such attorney-in-fact, or such attorney-in-fact's substitute or
substitutes, shall lawfully do or cause to be done by virtue of this
Limited Power of Attorney and the rights and powers herein granted.  The
undersigned acknowledges that the foregoing attorneys-in-fact, in serving
in such capacity at the request of the undersigned, are not assuming, nor
is the Company assuming, any of the undersigned's responsibilities to
comply with Section 16 of the Securities Exchange Act of 1934.

	Unless
earlier revoked by the undersigned in a signed writing delivered to the
foregoing attorneys-in-fact, this Limited Power of Attorney shall remain in
full force and effect until the undersigned is no longer required to file
such forms or documents with respect to the undersigned's holdings of and
transactions in securities issued by the Company.

	IN WITNESS WHEREOF,
the undersigned has caused this Limited Power of Attorney to be executed
effective as of August 20, 2002.


                                 /s/
Ronald S. Beard