Topgolf Callaway Brands Corp. announced the resignation of Artie Starrs, CEO of Topgolf, who has accepted another CEO position with an undisclosed business. Starrs is expected to remain with the company through September 2025 to assist with an orderly transition, and an executive search for his replacement is underway.
The company confirmed that Starrs' departure does not affect its strategic direction or commitment to separating Topgolf, but the spin-off transaction is now likely to occur in 2026, after a new CEO is in place. This represents a delay from previous expectations for the second half of 2025.
This executive change and the postponement of the Topgolf spin-off introduce an element of uncertainty regarding the timeline for a key strategic initiative. Investors will be closely watching the appointment of a new CEO and further updates on the separation plan, which is intended to maximize shareholder value.
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