Ely Callaway Chooses Unit Chief as Successor

Ely Callaway, the colorful founder of Callaway Golf Co., designated a successor to take over for him as chief executive of the golf club maker when he retires, which could be between now and next year. Chuck Yash, who has been president and chief executive of Callaway’s subsidiary, Callaway Golf Ball Co., will serve as president of the Carlsbad-based parent in the meantime. Yash, 50, will also continue to head the golf ball unit, which will introduce its first product in January. Yash came to Callaway Golf from rival Taylor Made Golf, where he was president for four years. According to a company statement, Yash will take over from Ely Callaway, 80, “by Dec. 31, 2000, or when Mr. Callaway ceases to be involved in active management of the company--whichever comes earlier.” Callaway has twice been CEO, once from 1982 to 1996 and a second time starting in October 1998. Callaway’s shares have declined nearly 13% in the last 12 months. The Yash announcement was made after the close of trading. Shares fell 19 cents to close at $10.56 on the New York Stock Exchange.