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Callaway Golf Co (NASDAQ:ELY) is getting a new name.
The Carlsbad, California-based golf equipment manufacturer and TopGolf owner will formally change its name to Topgolf Callaway Brands Corp. to reflect the company’s current holdings and change its ticker to MODG (Modern Golf).
Callaway says the name change reflects the Company's dynamic brand portfolio that reaches beyond golf club equipment after Callaway merged with Topgolf in 2021 “and reaches across the full Modern Golf and active lifestyle ecosystem, including on- and off-course golf.”
Callaway has recently acquired several brands alongside Topgolf, including TravisMathew, Jack Wolfskin, and OGIO. The new name aims to help better reflect the company’s growth strategy beyond its heritage in golf equipment.
"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."
With a golf landscape that is arguably changing faster than ever, Callaway's move aligns to keep up with the rapidly evolving demographics and evolution of the game we are seeing today.
Callaway’s ticker change will go into effect on September 7, 2022.
Posted In: ELY
