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Nicklaus Companies Undergo Changes at the Top
The Nicklaus Companies based in North Palm Beach, Fla., will move into the next decade with some new faces and familiar names leading the way. The firm announced that Gary Nicklaus, one of company founder 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 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, he 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."
Nicklaus Design has been involved with 345 courses open for play in 34 countries and 39 states. Of those, Jack Nicklaus has designed, co-designed or re-designed 245 courses around the globe, 63 of which have been ranked in various national or international top-100 lists and at least 90 have hosted a professional tournament worldwide. Nicklaus Design currently has close to 40 courses under construction in 45 different countries.
Despite an economy that has stalled golf development in most global markets, Nicklaus Design has maintained a strong presence with 22 signed contracts thus far in 2009, including 16 projects in 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 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 about the Nicklaus Companies, visit www.nicklaus.com.
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