ClubCorp – The World Leader in Private Clubs® (NYSE:MYCC) – today
announced that Eric Affeldt intends to retire from his role as
Chief Executive Officer upon the appointment of his successor.
As part of its regular CEO succession planning process, the
Board has identified a strong internal candidate and will engage a
leading executive search firm to identify additional, highly
qualified, external candidates.
"The Board extends its deep appreciation to Eric for his
outstanding leadership over the past 11 years,” said John Beckert,
Chairman of the Board. “His expertise and strategic leadership have
been instrumental in strengthening the Company. We look forward to
Eric’s continued leadership as we conduct our CEO search and
execute a seamless leadership transition.”
Affeldt, who joined ClubCorp as President and CEO in late 2006,
has led the Company through the best 10 years of its 60 year
history, in terms of financial performance. In addition, he oversaw
the investment of more than $720 million in ClubCorp properties,
enhancing the value and experience for ClubCorp’s members and
guests. Finally, he helped lead the Company’s 2013 initial public
stock offering and has been a major driver in the reinvention of
the modern club management industry.
Affeldt commented, “It has been a tremendous privilege to help
lead The World Leader in Private Clubs®. We have achieved so much
since our IPO in 2013, and have set the industry bar for
reinventions within the modern club management sector. I am so
proud of our 20,000 Employee Partners and the outstanding service
they provide to all our members and guests.”
About ClubCorp (NYSE: MYCC)Since its founding
in 1957, Dallas-based ClubCorp has operated with the central
purpose of Building Relationships and Enriching Lives®. ClubCorp is
a leading owner-operator of private golf and country clubs and
private business clubs in North America. ClubCorp owns or operates
a portfolio of over 200 golf and country clubs, business clubs,
sports clubs, and alumni clubs in 27 states, the District of
Columbia and two foreign countries that serve over 430,000 members,
with approximately 20,000 peak-season employees. ClubCorp Holdings,
Inc. is a publicly traded company on the New York Stock Exchange
(NYSE:MYCC). ClubCorp properties include: Firestone Country Club
(Akron, Ohio); Mission Hills Country Club (Rancho Mirage,
California); The Woodlands Country Club (The Woodlands, Texas);
Capital Club Beijing; and Metropolitan Club Chicago. You can find
ClubCorp on Facebook at facebook.com/clubcorp and on Twitter at
@ClubCorp.
Important Additional Information and Where to Find
ItThe Company, its directors and certain of its executive
officers and employees may be deemed to be participants in the
solicitation of proxies from stockholders in connection with the
Company’s 2017 annual meeting of stockholders (the “2017 Annual
Meeting”).
The Company plans to file a proxy statement with the SEC in
connection with the solicitation of proxies for the 2017 Annual
Meeting (the “2017 Proxy Statement”), together with a WHITE proxy
card. STOCKHOLDERS ARE URGED TO READ THE 2017 PROXY STATEMENT
(INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER
RELEVANT DOCUMENTS THAT THE COMPANY WILL FILE WITH THE SEC
CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY
WILL CONTAIN IMPORTANT INFORMATION. Additional information
regarding the identity of these potential participants and their
direct or indirect interests, by security holdings or otherwise,
will be set forth in the 2017 Proxy Statement and other materials
to be filed with the SEC in connection with the 2017 Annual
Meeting.
Stockholders will be able to obtain, free of charge, copies of
the 2017 Proxy Statement, any amendments or supplements thereto and
any other documents (including the WHITE proxy card) when filed by
the Company with the SEC in connection with the 2017 Annual Meeting
at the SEC’s website (http://www.sec.gov) or via the Company’s
Investors section of the ClubCorp website at ir.clubcorp.com. In
addition, copies of the proxy materials, when available, may be
requested from the Company’s proxy solicitor, MacKenzie Partners,
Inc., 105 Madison Avenue, New York, NY 10016 or toll-free at (800)
322-2885 or by email: ClubCorp@mackenziepartners.com.
Special Note on Forward-Looking StatementsIn
addition to historical information, this press release contains
statements relating to future results that are “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, which are subject to the “safe harbor” created
by those sections. These forward-looking statements can be
identified by the fact that they do not relate strictly to current
or historical facts and often include words such as “plans”,
“expect”, “intend”, “will”, “estimate”, “believe” or “continue”, or
the negatives of these terms or variations of them or similar
terminology in this press release to identify forward-looking
statements. All statements, other than statements of historical
facts included in this press release, including statements
concerning plans, goals, beliefs, future events trends and other
information are forward-looking statements. The forward-looking
statements are not historical facts, and are based upon current
expectations, estimates and projections, and various assumptions,
many of which, by their nature, are inherently uncertain and beyond
management's control. All expectations, beliefs and projections are
expressed in good faith and the Company believes there is a
reasonable basis for them. However, there can be no assurance that
management's expectations, beliefs and projections will result or
be achieved and actual results may vary materially from what is
expressed in or indicated by the forward-looking statements.
These forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results to differ
materially from the forward-looking statements contained in this
press release, including among others: [the ability of the Board of
Directors to identify and attract candidates to succeed Mr.
Affeldt][changes in the business environment in which the Company
operates, the availability and attractiveness of potential
strategic opportunities, the behavior of the Company’s competitors]
and other risks, uncertainties and factors set forth in the
sections entitled “Risk Factors” and “Cautionary Statement
Regarding Forward-Looking Statements” in the Company's Annual
Report on Form 10-K for the fiscal year ended December 27, 2016,
which is on file with the Securities Exchange Commission
(“SEC”).
Although the Company believes that these statements are based
upon reasonable assumptions, it cannot guarantee future results and
readers are cautioned not to place undue reliance on these
forward-looking statements, which reflect management's opinions
only as of the date of this press release. Except as required by
law, the Company undertakes no obligation to update or revise
forward-looking statements to reflect new information or events or
circumstances that occur after the date of this press release or to
reflect the occurrence of unanticipated events or otherwise.
Readers are advised to review the Company's filings with the SEC
(which are available from the SEC's EDGAR database at www.sec.gov
and via the Company's website at ir.clubcorp.com).
Investor Relations:
ClubCorp Investor Relations
972-888-6206
Media Relations:
Joele Frank
Andrew Siegel / Jonathan Keehner
212-355-4449
CLUBCORP HOLDINGS, INC. (NYSE:MYCC)
Historical Stock Chart
From Apr 2024 to May 2024
CLUBCORP HOLDINGS, INC. (NYSE:MYCC)
Historical Stock Chart
From May 2023 to May 2024