A company that has been lost in the wilderness since the passing of a charismatic entrepreneur founder
Pros
Still has some people in R&D who are best-in-class and deeply committed to the game and business of golf. Still has strong cache overseas due to effective management teams in Asia and Europe. New management team making the right moves from institutional investors' point of view
Cons
Continuous mismanagement of the brand in the US since 2001, particularly so between 2006-2010. Declining market share. A new wave of layoffs every 6 months during the last two years. The longest serving CEO George Fellows in recent years was also completely out of touch with not only the golf industry but the global consumer products retail business climate in general. New management policies may improve the balance sheet, but whether this will result in improved commercial performance: increased market share, higher consumer preference, and therefore increased sales...the jury is still out. Employees face continued uncertainty and instability for years to come, and morale is low.
