Nicklaus Companies unveil several moves among top management

NORTH PALM BEACH, Fla. -- Gary Nicklaus, one of Jack Nicklaus' four sons, has been appointed vice chairman of the Nicklaus Companies, company officials have announced. In addition, 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 identify and take advantage of 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 Nicklaus Design President Jack Nicklaus II. 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.

"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," he added. "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."

Stringer has more than 25 years of experience in the golf business, first as a PGA Professional and general manager at 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 also responsible for overseeing the Nicklaus Design Asia operation, which now has representation in Hong Kong; Beijing; Seoul, Korea; and Manila, Philippines.

Despite an economy that has stalled golf course development in most global markets, Nicklaus Design has maintained a strong presence with 22 signed contracts thus far in 2009, including 16 projects spread across China, Korea and India. The company currently has courses under construction in 45 different countries.

For close to 40 years, the mission of the Nicklaus Companies has been to enhance the golf experience, and to provide golf-related businesses and services. These include golf course design, the development of golf and real estate communities, and the marketing and licensing of golf products and services.

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