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CEO of Callaway Golf resigns

Ron Drapeau, who took over Callaway Golf when founder Ely Callaway died three years ago, resigned Monday as chairman and chief executive officer.

The company said William Baker, the longest-tenured member of the board, would take over as chairman and interim CEO. Baker, 71, has been on Callaway's board for 10 years and has been CEO of three publicly traded companies.

No reason was given for Drapeau's departure.

``We appreciate his tremendous integrity and exemplary business practices and wish him well,'' Baker said.

Drapeau previously worked for Lynx Golf. He joined Callaway in 1996 and was senior vice president for manufacturing until being named CEO in May 2001. Callaway died of pancreatic cancer two months later, and Drapeau was selected to replace him as chairman.

Callaway spokesman Larry Dorman could not be immediately reached for comment.

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