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Ashworth Inc declares management realignment

17
Sep '05
California based leading designer of golf-inspired lifestyle sportswear Ashworth Inc announced the implementation of its plan to realign its finance, sourcing, production, distribution, design, sales and marketing management to better support its multi-brand, multi-channel business model and further leverage the strength of its Ashworth and Callaway Golf apparel brands and the Game and Kudzu headwear brands.

The Company has appointed a permanent Chief Financial Officer, has made certain changes in its merchandising and design department to improve future product line sell-through, and has made changes in its product sourcing and inventory planning departments to improve future forecasting and inventory turns.

The Company's Board of Directors (the "Board") has approved the appointment of Peter S. Case to the position of Executive Vice President, Chief Financial Officer and Treasurer of the Company effective September 16, 2005. Case, 44, has been acting as the interim Chief Financial Officer and Treasurer of the Company since July 29, 2005. Case is a California licensed CPA and has held several increasingly responsible finance and operations positions within Ashworth since joining the Company as Director of Finance in June 2000.

Additionally, the Board approved the promotion of Peter E. Holmberg to Executive Vice President of Merchandising, Design and Production effective September 16, 2005. Holmberg has served as the Senior Vice President of Merchandising and Design since May 20, 2005. Prior to that, Holmberg held several increasingly responsible sales positions within Ashworth since joining the Company as Director of Corporate Sales in July 1998.


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