Teddy Forstmann, the 71-year-old billionaire owner of IMG, underwent surgery to remove a malignant brain tumor last week, several publications are reporting.
Fox Business reports that Forstmann is considering appointing a president and chief operating officer to help with day-to-day management of the company and that IMG's board met on Wednesday to discuss the issue. Forstmann is likely to remain as CEO, Fox Business reports.
IMG has a large golf division that includes representation of players, Tiger Woods among them. Woods' agent, Mark Steinberg, who is the global managing director of IMG's golf division, was traveling and unavailable for comment.
In 2004, Forstmann bought the company that was founded in 1960 by Mark McCormack on a handshake deal with Arnold Palmer, who is still an IMG client.
Forstmann has often played in the AT&T Pebble Beach National Pro-Am, though he was absent this year. One of his sons played in his stead. "I knew he might be having some health issues but I hadn't heard this," said Ollie Nutt, CEO of the Monterey Peninsula Foundation that runs the tournament.
-- John Strege
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