UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On March 5, 2020, Ronald S. Beard notified the Board of Directors (the “Board”) of Callaway Golf Company (the “Company”) and the Company’s management that he plans to retire from the Board at the end of his current term and will not stand for re-election at the Company’s 2020 annual meeting of shareholders (the “Annual Meeting”). Upon the expiration of Mr. Beard’s current term, the size of the Board will be reduced from eleven to ten directors. Mr. Beard will continue to serve as Chairman of the Board and as a member of the Audit Committee, Compensation and Management Succession Committee and the Nominating and Corporate Governance Committee until the Annual Meeting. Mr. Beard’s decision not to stand for re-election was not the result of any disagreement with the Company or its management on any matter relating to the Company’s operations, policies or practices.
The Company extends its deepest gratitude to Mr. Beard for his distinguished service to the Board and his profound and lasting contributions to the Company.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: March 6, 2020 |
CALLAWAY GOLF COMPANY | |||||
| By: |
/s/ Sarah Kim | |||||
| Sarah Kim | ||||||
| Vice President, General Counsel and Corporate Secretary | ||||||