Nicklaus to step down from day-to-day operations of his company

After nearly 50 years of directing the wide-ranging business interests of the Nicklaus Cos., golfng legend Jack Nicklaus is stepping away from day-to-day involvement in the organization.

“I have spent my life building the Nicklaus Cos., and there has come a time in my life when I need to reduce my level of involvement and pursue many other things I am very interested in,” Nicklaus said in a statement.

He cited charity work — specifically efforts focused on children’s health care — and supporting industry grow-the- game initiatives as two interests he plans to devote more time to.

“I am 78 years old, and while my health is excellent, and I have a great deal of energy and enthusiasm, it became apparent by last fall that it was time for me to spend more time on these other activities,” he said.

Nicklaus-branded companies are involved in golf course design, development of golf and real estate communities and the marketing and licensing of golf products and services. The Golden Bear name is attached to a variety of lifestyle products and services, including golf academies, ice cream, restaurants, beverages, beverage ware, wine, home appliances, apparel, footwear and golf equipment.

New York banker Howard Milstein, who has partnered with Nicklaus since 2007, will assume the role of executive chairman. Nicklaus will remain as co-chairman, and the Nicklaus family will retain majority ownership. Sons Gary and Jack II will continue to serve as members of the board, with Jack II remaining as president of Nicklaus Design.

Nicklaus said he will continue his work on golf course design projects currently under development. 

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