Callaway Golf Company appointed Adebayo O. Ogunlesi to its board of directors. Ogunlesi, 56, is Chairman and Managing Partner of Global Infrastructure Management, LLC, which is a private equity firm with over $5 billion in assets which invests worldwide in infrastructure assets in the energy, transport, water and waste industry sectors.
He will begin serving immediately and will stand for election for a full one-year term at the Company's 2010 Annual Meeting of Shareholders in May.
Prior to founding Global Infrastructure Management, Ogunlesi spent 23 years at Credit Suisse where he held senior positions, including Executive Vice Chairman and Chief Client Officer and prior to that Global Head of Investment Banking.
“Bayo's extensive knowledge and experience advising clients in corporate finance and general business matters will benefit the Board greatly,” said Ronald S. Beard, Chairman and Lead Independent Director, Callaway Golf Company. “He is a welcome addition to the Board and we look forward to working with him.”
Callaway Golf's bylaws mandate that the company's board have between 6 and 15 members, of which the substantial majority must be independent. The addition of Ogunlesi expands the board to a total of nine members, including Chairman and Lead Independent Director, Ronald S. Beard, President and Chief Executive Officer, George Fellows, Samuel H. Armacost, John C. Cushman, III, Yotaro Kobayashi, John F. Lundgren, Richard L. Rosenfield and Anthony S. Thornley. With the addition of Mr. Ogunlesi as an independent director, eight of the nine board members qualify as independent under applicable standards.
