Ashworth, Inc. has implemented its plan to realign its finance, sourcing, production, distribution, design, sales and marketing management to better support its multi-brand, multi-channel business model and further leverage the strength of its Ashworth and Callaway Golf apparel brands and the Game and Kudzu headwear brands.
The company has appointed a permanent Chief Financial Officer, has made certain changes in its merchandising and design department to improve future product line sell-through, and has made changes in its product sourcing and inventory planning departments to improve future forecasting and inventory turns.
The Company's Board of Directors has approved the appointment of Mr. Peter S. Case to the position of Executive Vice President, Chief Financial Officer and Treasurer of the Company effective September 16, 2005. Mr. Case, 44, has been acting as the interim Chief Financial Officer and Treasurer of the Company since July 29, 2005. Mr. Case is a California licensed CPA and has held several increasingly responsible finance and operations positions within Ashworth since joining the Company as Director of Finance in June 2000.
Additionally, the Board approved the promotion of Mr. Peter E. Holmberg to Executive Vice President of Merchandising, Design and Production effective September 16, 2005. Mr. Holmberg has served as the Senior Vice President of Merchandising and Design since May 20, 2005. Prior to that, Mr. Holmberg held several increasingly responsible sales positions within Ashworth since joining the Company as Director of Corporate Sales in July 1998.
As of September 16, 2005, Mr. Per B. Gasseholm has resigned from his position as Executive Vice President and Chief Operating Officer of Ashworth, Inc. to pursue other career opportunities. Mr. Gasseholm's primary focus had been the Company's distribution center operations, supply chain, and customer service functions on a global basis. The Company has decided not to replace Mr. Gasseholm at this time and has reassigned his duties to other executives in the Company.
In addition to their regular duties, Mr. Case together with Mr. Randall L. Herrel, Sr., the Company's CEO, will oversee the operation of the Company's U.S. Embroidery and Distribution Center in Oceanside, California. Mr. Holmberg will oversee the Company's global Sourcing and Production departments and Mr. Gary I. (Sims) Schneiderman, the Company's Executive Vice President of Sales and Marketing, will oversee the Company's Customer Service department.
These senior organizational changes are designed to improve performance in the Company's departments and distribution channels. The Company has realigned its departments and functions to facilitate growth and better support its multi-brand, multi-channel business model. Additionally, these changes have been designed to support short-term strategic initiatives, long-term global vision goals and future growth.
