John K. Solheim has been elevated to president of Ping, the maker of golf clubs based in Phoenix, Ariz. Solheim is the grandson of founder Karsten Solheim and the eldest son of chairman and CEO John A. Solheim.
John K. Solheim served as executive vice president for two years; prior to that, he was president of Ping Golf Japan for four years,
Golf Digest
reported.
The company’s new president told
Golf Digest
that there are advantages and disadvantages to being a privately owned family company. “From the standpoint of being able to raise funds through a secondary offering or such, we don’t have access to that. But there are far more positives than negatives,” Solheim said. “You can do what you want to do, not what you think you need to do to satisfy someone else. We’re also very comfortable with the size of our business, so we don’t have to constantly plan on year-over-year growth. If we do have that growth, that’s gravy for us. We’re in it for the long run, not some short-term gain.” (Source:
Golf Digest
, Feb. 8, 2017.)
-
1169 reads