The well-respected industry veteran Friday was named president and CEO the MacGregor Golf Co., parent company of Greg Norman Collection and MacGregor Golf.
At the same time, the company announced that Suzy Biszantz, president and CEO of Greg Norman Collection, will leave the company on Feb. 29 when her contract expires. Dave Hall, COO and senior vice-president of finance, has also decided not to renew his contract and will depart at the end of the month. MacGregor said it will begin a search to replace both executives. Hall has been with the brand for nine years and Biszantz since 2001.
Setola, who will be based in New York, started today.
Reached by phone, Setola told DNR that he was “excited to get back to running a business on a full-time basis.”
Setola was most recently president of Oxford Industries, where he was oversaw multiple brands including Oxford, Lanier and Ben Sherman. Before that, he was chairman and CEO of Salant Corp., whose brands included Perry Ellis and Axis. Overall, he has 25 years of experience and is well-versed in a variety of areas, including operations, marketing, international, retail and licensing.
Setola said there were “a lot of components” that attracted him to his new position. “MacGregor is the oldest golf brand in the world and has a good footprint in the U.S. and a tremendous footprint internationally,” he said. “It has a mix of hard and soft goods; I love golf and the golf business and the Greg Norman business is a big part of the organization. It’s a great label and they’ve built a good business, but I see a great opportunity to build the business even more here and in the rest of the world.”
Sources indicate that Setola may also have taken an equity stake in the business. He declined to comment, saying that MacGregor is a private company and not required to provide specific details of its ownership.
Setola said that although the company has operations in the U.K., Japan, Georgia and Florida, he will be based in its Manhattan offices. “But I think Continental will be my new best friend,” he said with a laugh.
“I’m just happy to be able to take what I do in business and attach it to a game I love. It’s the perfect combination,” he concluded.
“We are very excited to have Mike join us as our new president and CEO,” said Greg Norman, chairman of the MacGregor Golf Co.’s board of directors, in a statement. “He is a proven leader with extensive industry experience and expertise, in addition to being a proficient strategic planner. Mike has a long track record of transforming businesses and spearheading change. He brings a fresh vision and we are confident he can build on the momentum Greg Norman Collection and MacGregor Golf have established.”
MacGregor acquired Greg Norman Collection in October 2006 from Adidas. Greg Norman Collection had been a division of Reebok, and Adidas, which had its own golf division, had been seeking to sell off Greg Norman. At the time, Greg Norman himself purchased a significant equity stake in MacGregor Golf, which is based in Albany, Ga. MacGregor Golf and Greg Norman had combined sales of more than $150 million in 2006 when they merged
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