Callaway announces plans for new corporate name: Topgolf Callaway Brands Corp.
Callaway Golf Company to change ticker to MODG, reflecting its leadership in the much larger, more dynamic and inclusive Modern Golf ecosystem.
Callaway Golf Company announced today plans to change its corporate name to Topgolf Callaway Brands Corp.
Following the Company’s merger with Topgolf in 2021, the name change reflects the Company’s dynamic brand portfolio that has unmatched scale and reach across the full Modern Golf and active lifestyle ecosystem, including on- and off-course golf.
“We are excited to introduce Topgolf Callaway Brands, which better acknowledges our long-term strategic path forward, while emphasizing our unique and dominant leadership in the Modern Golf space,” commented Chip Brewer, President and Chief Executive Officer of the Company.
“With the change, our new corporate identity will reinforce the opportunities that are anchored in our strong heritage business and at the same time build important awareness for our strategic shift towards exciting new ventures in the Modern Golf and active lifestyle segments.”
Mr. Brewer continued, “We believe that Topgolf Callaway Brands simultaneously communicates robust growth and change along with stability and strength.”
The Company expects the corporate name change to be effective on or about September 6, 2022. In connection with the change, effective on or about September 7, 2022, the Company also intends to change its ticker symbol on the New York Stock Exchange from “ELY” to “MODG” to reflect the Company’s leadership position in the Modern Golf ecosystem.
Following the corporate name change, each of the Company’s brands will retain their unique identities and go-to market strategies. Topgolf Callaway Brands will continue to be led by the current Callaway Golf Company management team.
