Callaway Golf Co. announced Feb. 27 that the board of directors has appointed Chip Brewer president and CEO of the company, effective March 5. Tony Thornley, who has served as interim president and CEO since June, will resign from his interim positions March 5, but will continue to serve on the board.

“After a very thorough search, we believe that we have selected the ideal candidate to lead us through the next chapter at Callaway," Ronald S. Beard, chairman of the board of directors, said in a statement. “Chip has extensive knowledge of all facets of the golf business, particularly in the sales and marketing area, and has a real passion for the game of golf. Chip also has great relationships with customers and others in the golf industry and he has done a great job turning around and leading Adams Golf. We believe he is the right leader to entrust with our valuable brands and the Board looks forward to working with him to restore profitability and increase shareholder value."

Brewer is expected to be appointed to the board of directors once he joins the Carlsbad-based company.

Callaway stock is listed under the symbol ELY on the New York Stock Exchange.

— Stephanie R. Glidden