F&F announced on the 29th that the directors it appointed at TaylorMade Holdings would resign from their positions during the acquisition investment of TaylorMade.
This resignation is a decision made to preemptively prevent unnecessary controversies that may arise during the process of F&F acquiring TaylorMade.
F&F plans to devote more effort to reviewing the acquisition of TaylorMade based on the rights it holds contractually.
F&F is the largest investor of the TaylorMade investment fund, which holds rights to appoint three directors of TaylorMade Holdings as well as rights of first refusal (ROFR) and approval rights on major management decisions such as sales.
F&F has been receiving reports from Centroid regarding major management matters of TaylorMade based on the agreement made with Centroid and notifying it on each case's approval.
Even after this resignation of directors, F&F's rights remain valid, and it will continue to monitor to ensure that TaylorMade can be managed normally.
An F&F official noted, "The acquisition of TaylorMade by F&F is key to F&F's long-term strategy aimed at enhancing the global growth and corporate value of the F&F brand, not just a simple investment purpose," and emphasized, "We are proceeding with acquisition review tasks such as selecting a purchasing manager to ensure the strategy bears fruit in the future, and we will focus further on this going forward."