By  on October 23, 2007

ATLANTA — Greg Norman has been named chairman of the board of directors of MacGregor Golf Co., succeeding Barry Schneider, who has resigned as CEO and chairman in order to spend more time with his family and pursue other business interests, the privately-held, Albany, Ga.-based company said Monday. MacGregor, which owns Greg Norman Collection, is searching for a new CEO.

On an operating level, the management team remains unchanged. Suzy Biszantz, CEO, and Dave Hall, COO and senior vice-president of finance, continue to lead efforts for Greg Norman Collection. Reid Gorman remains president of MacGregor Golf North America, John Ennis remains president of MacGregor Golf Europe, and Makoto Tanaka remains president MacGregor Golf Asia.

The company also said that it has completed a recapitalization led by three of its existing investors that the privately-held Albany, Ga.-based golf company said will strengthen balance sheet and provide significant resources for continued growth. Terms were not disclosed.

The existing investors who led the recapitalization are Norman, the Gordon P. Getty Family Trust and Sankaty Advisors, LLC, an affiliate of Bain Capital, LLC.

The recapitalization positions MacGregor for sustained growth,” said Norman. “This is a very positive step for the company, and I look forward to helping unlock the true brand value that is embedded within MacGregor and Greg Norman Collection and to achieving their full potential.”

MacGregor acquired Greg Norman Collection in October 2006 from Adidas AG. The golf apparel company was a division of Reebok when Adidas acquired that company in January 2006.

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