Industry Icon Barney Adams Named Interim CEO of Adams Golf
27 Fevereiro 2012 - 8:00PM
Adams Golf (Nasdaq:ADGF) today announced that Mr. Chip Brewer has
tendered his resignation as Chief Executive Officer and a member of
the Board of the Directors, effective upon the close of business on
February 29, 2012. Mr. Barney Adams, Chairman of the Board of
Directors and founder of Adams Golf, will serve as interim CEO
while the Board continues to explore and evaluate strategic
alternatives to enhance shareholder value.
"This is an amiable transition and we wish Chip well and thank
him for his service to the Company over the last 13 years," stated
Barney Adams. "Our Company continues to perform at a high level and
I look forward to working with the operating team to carry on the
excellent results they have been delivering."
About Adams Golf
Developing high-performance and technologically innovative golf
products is the cornerstone of Adams Golf. From initial design,
through manufacturing and servicing, Adams Golf is committed to
helping golfers of all abilities enjoy the game of golf. For more
information on Adams Golf, please visit www.adamsgolf.com or view
prior press releases at http://www.adamsgolf.com/news.htm.
The Adams Golf logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5031
Forward Looking Statements
This press release contains "forward-looking statements" made
under the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. The statements include, but are not
limited to, statements using terminology such as "may," "will,"
"expect," "intend," "estimate," "anticipate," "plan," "seek,"
"inevitably," "appears," or "believe." Such statements reflect the
current view of Adams Golf with respect to future events and are
subject to certain risks, uncertainties and assumptions related to
certain factors including, without limitation, the following: the
impact of changing economic conditions; product development
difficulties; assembly difficulties; competing product
introductions; patent infringement risks; our ability to protect
our intellectual property rights; market demand and acceptance of
products; the success of our marketing strategy both domestically
and internationally; our dependence on a limited number of
customers; business conditions in the golf industry; reliance on
third parties, including suppliers; the actions of competitors,
including pricing, advertising and product development risks
concerning future technology; the management of sales channels and
re-distribution both domestically and internationally; and one-time
events and other factors detailed under "Risk Factors" in our most
recent Form 10-K and subsequent Form 10-Q on file with Securities
and Exchange Commission. These filings can be obtained by
contacting Adams Golf Investor Relations.
Although Adams Golf believes that the expectations reflected in
such forward-looking statements are reasonable, it can give no
assurance that such expectations will prove to be correct. Based
upon changing conditions, should any one or more of these risks or
uncertainties materialize, or should any underlying assumptions
prove incorrect, actual results may vary materially from those
described herein. Except as required by federal securities laws,
Adams Golf undertakes no obligation to publicly update or revise
any written or oral forward-looking statements, whether as a result
of new information, future events, changed circumstances or any
other reason after the date of this press release. All subsequent
written and oral forward-looking statements attributable to Adams
Golf or persons acting on its behalf are expressly qualified in
their entirety by the applicable cautionary statements.
CONTACT: Pamela High
Chief Financial Officer
Adams Golf
(972) 673-9000
InvestorInfo@adamsgolf.com
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