John Ward appointed president of Adams Golf

Adams Golf introduced its Speedline Fast 12 fairway woods and drivers in early 2012.

Adams Golf introduced its Speedline Fast 12 fairway woods and drivers in early 2012.

John Ward, a veteran sales executive with TaylorMade-Adidas Golf, has been appointed president of the company's newest acquisition, Adams Golf.

The Adidas Group, parent of TaylorMade-Adidas Golf, announced Friday that it had completed acquisition of Adams, the equipment maker in Plano, Texas.

The purchase, for $10.80 per share in cash, is valued at approximately $70 million.

“We’ve long admired Adams Golf’s enthusiasm for incorporating performance technologies into its equipment, just as TaylorMade-adidas Golf does,” said Mark King, president and chief executive officer of TaylorMade-Adidas Golf. “Uniting the talents of the TaylorMade-Adidas Golf and Adams Golf research-and-development departments will help us develop even better equipment for the target consumers of both brands.”

TaylorMade-Adidas Golf intends to use its global distribution network to expand Adams beyond its primary U.S. customer base, King said.

Ward, a 20-year TaylorMade veteran, had been vice president of U.S. sales for the Carlsbad, Calif.-based company.

“The immediate opportunity for growth is international expansion," King said, "and there is no one better suited to lead this charge than someone who has participated in TaylorMade-Adidas Golf’s global growth.”

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