Jack Nicklaus taking step back in his golf companies

Jack Nicklaus is stepping away from his day-to-day commitments to his companies to focus on charity work and spend more time with his family.

Jack Nicklaus wants to focus more of his time on charity work and family commitments

The 18-time major winner is handing over the running of the Nicklaus and Golden Bear brands to Howard Milstein, who has been his business partner for the last 10 years.

“I have spent my life building the Nicklaus Companies, 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,” said Nicklaus.

“Such as charity work—specifically efforts focused on children’s healthcare—supporting the industry’s initiatives to grow this great game, and being involved in many other things outside of my involvement in the Nicklaus Companies.

“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.

“I didn’t want to make a big deal out of it, and there is no reason for me to do so, because I will continue to support the Nicklaus Companies and I want the company to be successful.

“However, my life has changed and I wish to support my wife, as well as other family members, in any endeavor they are involved.

“I have said many times that (wife) Barbara spent much of her life supporting me and my career, and for the last few years, I have tried to dedicate my time and energies to supporting her and what she is involved in.

I am enjoying that aspect and want to continue to devote my time to her and these other life-changing efforts, and to enjoy our lives together. I would like to thank Howard.

“He has enabled me to monetize what I have built in this company, take care of my family, and allowed me the time to focus on these other priorities in my life.”

Nicklaus-branded products have been marketed worldwide since 1962. The Jack Nicklaus and Golden Bear-branded lifestyle collection of products includes: golf academies; ice cream; restaurants; beverages; beverageware; wine; home appliances; apparel; footwear; and golf equipment.

Meanwhile, Nicklaus Design continues to be recognised as the world leader in golf course design, with 415 courses open for play in 45 countries and 39 US states.

Nicklaus has designed, co-designed or re-designed over 300 courses around the globe, more than 100 of which have been ranked in various national or international Top-100 lists.

He will continue to support the golf course design projects currently under development.

Nicklaus will remain as co-chairman of the Nicklaus Companies, while Milstein will assume the role of executive chairman. The Nicklaus Family will continue to be the majority owner of the company.

“Jack Nicklaus has basically spent a lifetime building a successful company and brand that is viewed as the strongest in golf, and we embrace the opportunity and responsibility to make certain this great brand - one that represents excellence - continues to grow in global prominence,” said Milstein.

“Jack has also built a company with experienced, talented, innovative and hard-working people, and those colleagues are as much a part of his legacy as the company itself.”