Tiger Woods Loses 1st Sponsor
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Price: $138.52 --0%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.8%
Revenue Growth %: +2.9%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.8%
Revenue Growth %: +2.9%
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Tiger Woods has lost his first substantial sponsorship deal, as global consulting firm Accenture PLC (NYSE: ACN) confirmed Sunday that it is cutting ties with the golf superstar.
Accenture's decision comes after two weeks of the golfer being scrutinized in the public for his many alleged extramarital affairs and the car accident outside of his Orlando home on November 27, and now a decision to take an indefinite leave from the game to focus on his family.
"After careful consideration and analysis, the company has determined that he is no longer the right representative for its advertising," Accenture said in a statement on Sunday.
The firm will now redesign the advertising campaign that has been its public face over the course of a six-year relationship with Woods. Accenture will begin to roll out new advertisements later in 2010 minus the world’s No. 1 golfer.
Accenture will remain as the title sponsor for the Match Play Championship with a recently renewed contract through 2014 that has no ties to Woods. The tournament has always been widely viewed due its unique setup and the perennial entry by Woods, who will almost assuredly miss the tournament this year.
The weekend also came with news from other sponsors of Woods, none of which was good for the golfer’s future income.
Proctor & Gamble Co’s (NYSE: PG) Gillette said that it will not run any of the company’s many ads featuring Woods for an unspecified time. Woods has been with Gillette in 2007 when the company hired him to endorse its Fusion Power razors.
Luxury watch-maker Tag Heuer said that over the coming weeks the company will assess its future options with regards to its “long-term” relationship with Woods. AT&T (NYSE: T) also said that its relationship with the golfer.
Nike (NYSE: NKE) releases a statement that the company stands behind Woods’ decision to take time off to focus on family. Nike has tied its entire golf brand into Woods including an entire line of clothing with the golfer’s name.
Shares of Accenture are trading at $42 before the market opens on Monday.
Accenture's decision comes after two weeks of the golfer being scrutinized in the public for his many alleged extramarital affairs and the car accident outside of his Orlando home on November 27, and now a decision to take an indefinite leave from the game to focus on his family.
"After careful consideration and analysis, the company has determined that he is no longer the right representative for its advertising," Accenture said in a statement on Sunday.
The firm will now redesign the advertising campaign that has been its public face over the course of a six-year relationship with Woods. Accenture will begin to roll out new advertisements later in 2010 minus the world’s No. 1 golfer.
Accenture will remain as the title sponsor for the Match Play Championship with a recently renewed contract through 2014 that has no ties to Woods. The tournament has always been widely viewed due its unique setup and the perennial entry by Woods, who will almost assuredly miss the tournament this year.
The weekend also came with news from other sponsors of Woods, none of which was good for the golfer’s future income.
Proctor & Gamble Co’s (NYSE: PG) Gillette said that it will not run any of the company’s many ads featuring Woods for an unspecified time. Woods has been with Gillette in 2007 when the company hired him to endorse its Fusion Power razors.
Luxury watch-maker Tag Heuer said that over the coming weeks the company will assess its future options with regards to its “long-term” relationship with Woods. AT&T (NYSE: T) also said that its relationship with the golfer.
Nike (NYSE: NKE) releases a statement that the company stands behind Woods’ decision to take time off to focus on family. Nike has tied its entire golf brand into Woods including an entire line of clothing with the golfer’s name.
Shares of Accenture are trading at $42 before the market opens on Monday.
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