Callaway (ELY) CEO George Fellows received total compensation of $3.4 million in 2006, a year in which the company's sales rose 2%, to about $1 billion. Fellows' compensation included about $1.2 million in relocation costs and resulting taxes. Perks include up to two sets of golf clubs every two years.
Fellows joined Callaway in August 2005, when the feeling among some industry analysts was that Callaway - particularly its drivers - had lost ground to TaylorMade.
The driver/woods business appears to be doing quite well for Callaway these days, however, thanks to new products and heavy marketing. Total sales in that category rose 26% in '06, to $266.5 million. And in the first quarter of '07, when Callaway got its square-headed FT-i driver and its cousin, the FT-5, in stores ahead of most of its rivals, sales jumped an estimated 10%.
ELY shares are up about 20% since Fellows' arrival.
No comments:
Post a Comment