Callaway Golf Company announced plans to change its corporate name to Topgolf Callaway Brands Corp. Following the company’s merger with Topgolf in 2021, “the name change reflects Callaway’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.”
The company expects the name change to be effective as early as Sep. 6, 2022; at relatively the same time, 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.
“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,” Chip Brewer, president and CEO of the company, commented. “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.”
Following the name change, each of the company’s brands will retain its unique identity and market strategy. Topgolf Callaway Brands will continue to be led by the current management team of Callaway Golf Company.
Total revenues of the group increased 22.1 percent to $1,115.7 million from $913.6 million in Q2, with all three segments – Topgolf, golf equipment and the active lifestyle segment (the latter including Jack Wolfskin, TravisMathew, Callaway and Ogio) – posting double-digit sales gains.
