Callaway Golf Founder, CEO Steps Down

Ely Callaway, the 81-year-old founder of Callaway Golf Co., retired as chief executive and president, citing health problems. Ron Drapeau, senior executive vice president of manufacturing, was named to succeed him in those positions, effective immediately, the Calabasas-based company said.

Callaway, who had planned to step down later this year, will remain as chairman. Last month, a tumor was discovered on his pancreas during surgery to remove his gall bladder.

“In my opinion, Callaway Golf deserves a healthy and qualified, full-time CEO right now,” Callaway said.

“Nobody can replace Ely Callaway. I can only follow him,” the 54-year-old Drapeau said. “I look forward to continuing to receive his guidance and counsel.”