Topgolf Callaway Brands Management

Management criteria checks 2/4

Topgolf Callaway Brands' CEO is Chip Brewer, appointed in Mar 2012, has a tenure of 12.67 years. total yearly compensation is $11.11M, comprised of 9.9% salary and 90.1% bonuses, including company stock and options. directly owns 0.93% of the company’s shares, worth €13.44M. The average tenure of the management team and the board of directors is 3.6 years and 6.3 years respectively.

Key information

Chip Brewer

Chief executive officer

US$11.1m

Total compensation

CEO salary percentage	9.9%
CEO tenure	12.7yrs
CEO ownership	0.9%
Management average tenure	3.6yrs
Board average tenure	6.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Chip Brewer's remuneration changed compared to Topgolf Callaway Brands's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	-US$12m
Jun 30 2024	n/a	n/a	US$21m
Mar 31 2024	n/a	n/a	US$77m
Dec 31 2023	US$11m	US$1m	US$95m
Sep 30 2023	n/a	n/a	US$99m
Jun 30 2023	n/a	n/a	US$108m
Mar 31 2023	n/a	n/a	US$96m
Dec 31 2022	US$11m	US$1m	US$158m
Sep 30 2022	n/a	n/a	US$204m
Jun 30 2022	n/a	n/a	US$150m
Mar 31 2022	n/a	n/a	US$136m
Dec 31 2021	US$27m	US$1m	US$322m
Sep 30 2021	n/a	n/a	US$308m
Jun 30 2021	n/a	n/a	US$376m
Mar 31 2021	n/a	n/a	US$117m
Dec 31 2020	US$5m	US$761k	-US$127m
Sep 30 2020	n/a	n/a	-US$116m
Jun 30 2020	n/a	n/a	-US$137m
Mar 31 2020	n/a	n/a	US$60m
Dec 31 2019	US$6m	US$895k	US$79m
Sep 30 2019	n/a	n/a	US$80m
Jun 30 2019	n/a	n/a	US$59m
Mar 31 2019	n/a	n/a	US$91m
Dec 31 2018	US$6m	US$845k	US$105m
Sep 30 2018	n/a	n/a	US$114m
Jun 30 2018	n/a	n/a	US$107m
Mar 31 2018	n/a	n/a	US$78m
Dec 31 2017	US$5m	US$800k	US$41m

Compensation vs Market: Chip's total compensation ($USD11.11M) is above average for companies of similar size in the German market ($USD1.65M).

Compensation vs Earnings: Chip's compensation has increased whilst the company is unprofitable.

CEO

Chip Brewer (60 yo)

12.7yrs

Tenure

US$11,105,846

Compensation

Mr. Oliver G. Brewer, III, also known as Chip, serves as Member of Advisory Board at KB Partners, LLC since joining the firm in May 2021. He has been the President and Chief Executive Officer at Topgolf Ca...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Oliver Brewer	President	12.7yrs	US$11.11m	0.93% € 13.4m
Brian Lynch	Executive VP	12.4yrs	US$2.95m	0.12% € 1.7m
Mark Leposky	Executive VP & Chief Supply Chain Officer	1.8yrs	US$2.05m	0.17% € 2.4m
Glenn Hickey	Executive VP & President of Callaway Golf	1.7yrs	US$2.05m	0.040% € 582.4k
Arthur Starrs	Chief Executive Officer of Topgolf International	3.6yrs	US$4.23m	0.046% € 665.5k
Erin Chamberlin	Chief Operating Officer	less than a year	no data	no data
Jennifer Thomas	Senior VP & Chief Accounting Officer	11.5yrs	no data	0.041% € 598.0k
Katina Metzidakis	Vice President of Investor Relations & Corporate Communications	no data	no data	no data
Maryam Morse	Chief People Officer	less than a year	no data	no data
Neil Howie	MD & President of Europe	13.3yrs	US$1.06m	no data
Sean Toulon	Senior Vice President	no data	no data	no data
Timothy Reed	Senior Vice President of Global Sports Marketing	no data	no data	no data

3.6yrs

Average Tenure

60yo

Average Age

Experienced Management: CLY's management team is considered experienced (3.6 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Oliver Brewer	President	12.7yrs	US$11.11m	0.93% € 13.4m
Varsha Rao	Independent Director	2.7yrs	US$234.87k	0.015% € 220.2k
John Lundgren	Independent Chairman	15.7yrs	US$284.87k	0.051% € 741.9k
Anthony Thornley	Independent Director	20.6yrs	US$234.87k	0.044% € 634.6k
Russell Fleischer	Independent Director	6.5yrs	US$249.87k	0.042% € 612.8k
Adebayo Ogunlesi	Independent Director	14.8yrs	US$244.87k	0.12% € 1.7m
Erik Anderson	Independent Vice Chairman of the Board	3.7yrs	US$234.87k	0.043% € 619.0k
Scott Marimow	Independent Director	3.7yrs	US$234.87k	0.0096% € 138.5k
Linda Segre	Independent Director	9.3yrs	US$247.37k	0.032% € 467.0k
Laura Flanagan	Independent Director	6yrs	US$234.87k	0.023% € 330.8k
Bavan Holloway	Independent Director	2.9yrs	US$234.87k	0.0080% € 116.4k
C. Turney	Independent Director	1.4yrs	US$184.87k	0.0038% € 54.9k

6.3yrs

Average Tenure

60yo

Average Age

Experienced Board: CLY's board of directors are considered experienced (6.3 years average tenure).

Topgolf Callaway Brands Management

Management criteria checks 2/4

Key information

Recent management updates

Topgolf Callaway Brands Corp. Appoints Erin Chamberlin as Chief Operating Officer, Beginning July 22, 2024

Topgolf Appoints Maryam Morse as Chief People Officer

Topgolf Callaway Brands Corp., Annual General Meeting, May 30, 2024

President recently bought €327k worth of stock

High number of new directors

President recently bought €138k worth of stock

Recent updates

Topgolf Callaway Brands Corp. Lowers Earnings Guidance for the Full Year 2024

Topgolf Callaway Brands Corp. to Report Q3, 2024 Results on Nov 12, 2024

Topgolf Callaway Brands Corp. Intends to Pursue the Separation of Its Business into Two Independent Companies

Second quarter 2024 earnings released: EPS: US$0.34 (vs US$0.63 in 2Q 2023)

Topgolf Callaway Brands Corp. Provides Consolidated Earnings Guidance for the Third Quarter of 2024

Investor sentiment deteriorates as stock falls 15%

Topgolf Callaway Brands Corp. to Report Q2, 2024 Results on Aug 07, 2024

Topgolf Callaway Brands Corp. Appoints Erin Chamberlin as Chief Operating Officer, Beginning July 22, 2024

Callaway Golf Announces New Opus and Opus Platinum Wedges

Topgolf Appoints Maryam Morse as Chief People Officer

First quarter 2024 earnings released: EPS: US$0.035 (vs US$0.14 in 1Q 2023)

Topgolf Callaway Brands Corp. Revises Consolidated Earnings Guidance for the Full Year of 2024

Topgolf Callaway Brands Corp. to Report Q1, 2024 Results on May 08, 2024

Topgolf Callaway Brands Corp., Annual General Meeting, May 30, 2024

Investor sentiment improves as stock rises 16%

Full year 2023 earnings released: EPS: US$0.51 (vs US$0.85 in FY 2022)

Investor sentiment improves as stock rises 18%

New minor risk - Earnings quality

Full year 2023 earnings released: EPS: US$0.51 (vs US$0.85 in FY 2022)

Topgolf Callaway Brands Corp. to Report Q4, 2023 Results on Feb 13, 2024

New major risk - Revenue and earnings growth

President recently bought €327k worth of stock

Investor sentiment deteriorates as stock falls 16%

New minor risk - Share price stability

Third quarter 2023 earnings released: EPS: US$0.16 (vs US$0.21 in 3Q 2022)

Topgolf Callaway Brands Corp. (NYSE:MODG) acquired Certain assets of BigShots Golf for $29 million.

Topgolf Callaway Brands Corp. to Report Q3, 2023 Results on Nov 08, 2023

New minor risk - Earnings quality

Second quarter 2023 earnings released: EPS: US$0.63 (vs US$0.57 in 2Q 2022)

Topgolf Callaway Brands Corp. Reaffirms Earnings Guidance for the Full Year 2023 and Provides Earnings Guidance for the Third Quarter of 2023

Topgolf Callaway Brands Corp. to Report Q2, 2023 Results on Aug 08, 2023

High number of new directors

Investor sentiment improves as stock rises 15%

President recently bought €138k worth of stock

Executive VP & Chief People Officer recently bought €105k worth of stock

Investor sentiment deteriorates as stock falls 22%

Executive VP recently bought €163k worth of stock

First quarter 2023 earnings released: EPS: US$0.14 (vs US$0.47 in 1Q 2022)

Topgolf Callaway Brands Corp. Raises Consolidated Earnings Guidance for Full Year 2023

Full year 2022 earnings released: EPS: US$0.85 (vs US$1.90 in FY 2021)

Topgolf Callaway Brands Corp. Provides Earnings Guidance for the First Quarter and Full Year 2023

Topgolf Callaway Brands Corp. to Report Q4, 2022 Results on Feb 09, 2023

Callaway Golf Announces New Paradym Family of Woods and Irons

Executive VP recently bought €206k worth of stock

Independent Director recently bought €101k worth of stock

Third quarter 2022 earnings released: EPS: US$0.21 (vs US$0.086 loss in 3Q 2021)

Topgolf Callaway Brands Corp. Revises Earnings Guidance for the Full Year 2022

Topgolf Callaway Brands Corp. to Report Q3, 2022 Results on Nov 03, 2022

Second quarter 2022 earnings released: EPS: US$0.57 (vs US$0.49 in 2Q 2021)

Callaway Golf Company Revises Earnings Guidance for the Full Year of 2022

Callaway Golf Company to Report Q2, 2022 Results on Aug 04, 2022

Investor sentiment improved over the past week

Callaway Golf Company (NYSE:ELY) announces an Equity Buyback for $100 million worth of its shares.

Callaway Golf Company Raises Revenue Guidance for Full Year of 2022

First quarter 2022 earnings released: EPS: US$0.47 (vs US$2.32 in 1Q 2021)

Callaway Golf Company Provides Revenue Guidance for 2022

Callaway Golf Company, Annual General Meeting, May 25, 2022

President recently bought €314k worth of stock

Investor sentiment improved over the past week

Callaway Golf Company Provides Revenue Guidance for the First Quarter and Full Year of 2022

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Callaway Golf Company to Report Q4, 2021 Results on Feb 10, 2022

Callaway Golf Announces New Chrome Soft Golf Balls

Callaway Golf Announces New Rogue Family of Woods & Irons

Callaway Golf Company (NYSE:ELY) announces an Equity Buyback for $50 million worth of its shares.

Vice Chairman of the Board recently sold €235k worth of stock

Third quarter 2021 earnings released: US$0.086 loss per share (vs US$0.56 profit in 3Q 2020)

Investor sentiment deteriorated over the past week

Director Erik Anderson has joined 5th company board