Acushnet, the umbrella company for Titleist and FootJoy, announced on Monday that its President and Chief Executive Officer (CEO), Wally Uihlein has notified the company that he will retire effective January 1, 2018. Uihlein — age 68, who started with Acushnet in 1976 — plans to remain on the Acushnet Board of Directors and become Advisor to the Chairman, according to a press release from the company.
David Maher, who’s been with the company since 1991 and acts as the current Chief Operating Officer (COO), will take over as President and CEO when Uihlein’s retirement is official.
“We thank Wally Uihlein for his forty-plus years with Acushnet and the terrific leadership he has provided during this time,” Acushnet Chairman Gene Yoon said. “Acushnet will continue to benefit from his extensive knowledge and experience in areas such as strategic planning, acquisitions, player promotion and golf equipment regulatory matters.”
While at the company, Uihlein helped Titleist become the force that it is in the world of golf equipment, and he helped establish high-end putter maker Scotty Cameron and Master Craftsmen Bob Vokey as industry titans and brands themselves under the Titleist name. Uihlein also oversaw Acushnet going public in 2016. Acushnet currently trades under “GOLF” on the NYSE; the initial public offering (IPO) was $17 per share, and the stock opened at $17.06 on Monday morning.
“I also want to congratulate David Maher on his promotion to President and CEO,” Yoon said. “During his 26 years with the company, David has demonstrated both the leadership and strategy skills that will ensure that Acushnet will continue to be one of the leading companies in the worldwide golf industry.”