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Callaway sales plummet, but not exec pay
Unfortunately, Callaway has never had any decent leadership since Ely Callaway died in 2001. To George Fellows credit, as any good charlatan would do, he saw the vacuum left by the previous failed CEO's who tried to fill Ely's shoes, and he filled it. The board bought his act hook, line and sinker. They are as much to blame as anyone for this. Had they done their homework, they would have seen that he was a below average CEO at Revlon, as he has been at Callaway. The real shame is that the company still makes some of the best products in the business. If they ever had someone who knew what they were doing, they would dominate the industry. And Don, don't be alarmed if you try and get in touch with George and he doesn't call you back. Rumor is that he is at his Manhattan apartment or his house in the Hamptons most of the time. How else are you going to spend all that money?!— May 12, 2010 12:40 p.m.