The 78-year-old golf legend has decided to step away from the day-to-day commitments of the Nicklaus Companies and re-prioritize his time to focus on charity work. Nicklaus will remain as Co-Chairman of the Nicklaus Companies, while Howard Milstein will assume the role of Executive Chairman.
Jack Nicklaus has decided to step away from the day-to-day commitments of the Nicklaus Companies and re-prioritize his time and focus. Ten years ago, Nicklaus hired Howard Milstein as a partner to grow the business, institutionalize the Nicklaus and Golden Bear brands, and create a transition.
The foundations of the Nicklaus Companies were created almost 50 years ago, with the mission to promote the game of golf, preserve its traditions and grow the game. Products and services include golf-course design, development of golf and real estate communities, and the marketing and licensing of golf products and services.
“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, 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,” Nicklaus said.
“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,” Nicklaus said. “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.”
In 2004, a year before Nicklaus played his final competitive round in a major championship, the Nicklaus Children’s Health Care Foundation was founded. Since then, the Foundation has raised more than $83 million for pediatric care programs in South Florida and beyond. In 2015, world-renowned Miami Children’s Hospital was renamed Nicklaus Children’s Hospital. In November 2017, the entire Miami Children’s Health System was rebranded to Nicklaus Children’s, including 14 outpatient facilities up the Southeast Florida coast and west to Naples.
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. Many of these have been introduced in the last decade, as the focus was placed on building the brand.
Meanwhile, Nicklaus Design currently has 415 courses open for play in 45 countries and 39 U.S states. Nicklaus has designed, co-designed or re-designed over 300 courses around the globe. 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, with Emigrant/Milstein being a significant investor, and Jack Nicklaus II and Gary Nicklaus continue to serve as members of the Board. In addition, Jack Nicklaus II, who has active golf course design projects all over the world, including Malaysia and Vietnam, remains President of Nicklaus Design.
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