Nicklaus Companies announce key management moves
Gary Nicklaus named Vice Chairman; Tim Kenny to oversee investment
fund; Paul Stringer promoted to Executive Vice President of Nicklaus
Design
NORTH PALM BEACH, Fla.-The Nicklaus Companies
will move into the next decade and an exciting next era for the premier
name in golf with some new faces and familiar names to lead the way.
The Nicklaus Companies announced today that Gary Nicklaus, one of Jack
Nicklaus' four sons, has been appointed Vice Chairman, while Paul
Stringer, who has spent the last six years helping establish Nicklaus
Design's global presence, will now oversee day-to-day operations of the
world's leading golf course design firm in his position as Executive
Vice President.
Stringer takes over for Tim Kenny, who will serve as Executive Vice
President of The NicklausMilstein Fund. Created by Howard Milstein,
Chairman and CEO of New York Private Bank & Trust, which partnered with
the Nicklaus family in June 2007 to form Nicklaus Companies LLC, the
Fund is designed to capture the development and investment
opportunities that arise from the real estate and golf course design
businesses.
Gary Nicklaus has been involved with the Nicklaus Companies since last
competing on the PGA Tour in 2002, first focusing on investment
opportunities for the family and the company. Last year, Gary began to
get involved in the day-to-day operations of the company, working
closely with Jack Nicklaus II, President of Nicklaus Design. Gary will
also sit on the Investment Committee of the NicklausMilstein Fund.
"These personnel decisions further strengthen our management team and
maximize the talent that exists within this company," said Nicklaus CEO
John Reese. "We have such a strong global brand, but this positions us
to take advantage of what continues to be a growing worldwide
opportunity in our design division, as well as the marketing and real
estate arms of our company. Tim has been a wonderful asset and his
skills are ideally suited for this new fund; Paul has a tremendous
amount of experience with the Nicklaus Companies and wonderful ideas
for the design business; and Gary provides us great leadership in all
areas of our company.
"These moves are part of an exciting time for the Nicklaus
organization. We continue to enhance our presence in Asia, essentially
doubling our staff in China. Jack has been very committed to growing
the game, globally, so we are excited about the recent vote to include
golf in the Olympic Games, beginning with Brazil in 2016. We are
already involved in Brazil and South America, and we are eager to grow
with the game in these markets. Meanwhile, domestically, we have a
large Nicklaus Design family of existing courses, and we are making
great efforts to reconnect with them, whether it be on the design side
or with support through our other Nicklaus services and partnerships."
Despite an economy that has stalled golf course development in most
global markets, Nicklaus Design has maintained a strong presence with
22 signed contracts thus far in 2009, including 16 projects spread
across China, Korea and India. A significant reason for that success is
the business development efforts of Kenny and Stringer.
"Tim has been a key part of Nicklaus Design since 1986 and has been
invaluable in growing our business to what it is today," Jack Nicklaus
said. "Paul has worked in joint-step with Tim, especially as we have
tried to develop our business in new markets worldwide. Paul's
dedication to growing Nicklaus Design has taken him to over 75
countries, and he has a wealth of knowledge about the design business
and a tremendous skill set to lead us into the next phase of our
business. While we are fortunate to have Paul's leadership, we want to
thank Tim for his enormous contributions over the years."
Stringer has over 25 years of experience in the golf business, first as
a golf professional and General Manager at various golf clubs in the
Southwestern United States. He has been a two-term board member of the
Southwest Section of the PGA of America, Club Managers Association
member, and is a current member of the Urban Land Institute. In his
previous position as Senior Vice President of New Business Development,
Stringer was also responsible for overseeing the Nicklaus Design Asia
operation, which now has representation in Hong Kong; Beijing; Seoul,
Korea; and Manila, Philippines.
"I am very honored and I want to personally thank Jack Nicklaus, his
family and our partner Howard Milstein for their confidence in me,"
Stringer said. "In nearly seven years of service for Jack Nicklaus and
Nicklaus Design, I have learned a tremendous amount about the design
business and conducting business in international environments. Over
the past six years, I have traveled the world and have had the pleasure
to work with numerous owners, consultants, government officials, and
golfers discussing the ideals and core beliefs of Nicklaus Design.
"Like everyone in our industry, we have been challenged with a
difficult economy. Yet Nicklaus Design has been able to continue our
design business in countries whose economies were less impacted by the
global recession, a direct result of the power of the Nicklaus brand.
Nicklaus Design is well-positioned for when the global economy becomes
more vibrant and golf course development is rejuvenated. With the
collective quality and skills of our employees, and our continued
global presence, the future of our company is very bright."
For additional information on Nicklaus or Nicklaus Design, please visit
www.nicklaus.com.
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