Jimmy Dunne to join PGA TOUR Policy Board as an Independent Director in 2023
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Victor Ganzi to retire following 35 years of distinguished service
Written by Staff @PGATOUR
PONTE VEDRA BEACH, Florida – The PGA TOUR announced today that Jimmy Dunne, Vice Chairman and Senior Managing Principal of Piper Sandler, has accepted an invitation to join the Board as an Independent Director.
Dunne will step into the role vacated by long-time Independent Director Victor Ganzi, who will retire January 1, 2023. One of five Policy Board Independent Directors, Dunne will join Chairman Edward Herlihy, Mark Flaherty, Mary Meeker and Randall Stephenson. The five Player Directors for 2023 include new additions Patrick Cantlay, Peter Malnati and Webb Simpson, who will join current Player Directors Charley Hoffman and Rory McIlroy.
Dunne is one of the founders of Sandler O’Neill + Partners, L.P., which was acquired by Piper Jaffray in January 2020. Under Dunne’s leadership, Sandler O’Neill became the largest independent full-service investment banking firm focused on the financial services sector. Integral to Piper Sandler’s key client relations, Dunne advises on a wide variety of mergers and acquisitions, having consulted on some of the finance industry’s largest M&A transactions over the last three decades. A graduate of the University of Notre Dame with a bachelor’s degree in economics, Dunne is also a member of the Notre Dame’s Board of Trustees. In May 2021, he received an honorary doctor of laws degree from Notre Dame at the same time he served as commencement speaker.
“Everyone knows Jimmy is passionate about the PGA TOUR and game of golf as a whole, but it’s his proven track record as one of the leading investment bankers of his generation that makes the impact he will have as a member of the PGA TOUR Policy Board impossible to overstate,” said Chairman Herlihy. “His career of achievement spans over 40 years with too many successful leadership endeavors to count. Jimmy is known for his wisdom, judgement and common sense, and we are thrilled to welcome his unique perspective to the TOUR’s leadership approach.”
“Jimmy has been a key, trusted advisor at some of the largest, most impactful institutions in the world over the past several decades,” said PGA TOUR Commissioner Jay Monahan. “We’re honored and excited to welcome – officially, although he’s been a fan for his whole life – to the PGA TOUR family as our newest Policy Board member. I have no doubt the TOUR, our players, partners and ultimately our fans will benefit from his counsel and leadership.”
“The game of golf has always been a very important part of my life,” said Dunne. “I have enjoyed wonderful friendships with so many TOUR players and sponsors, and I think an understanding of those relationships and perspectives – along with my business experience – gives me the opportunity to contribute to the growth and success of the TOUR. I view joining the Policy Board as my turn to give back to the game I love so much.”
Ganzi has a 35-year record of service with the PGA TOUR, first as a founding member of the Golf Course Properties Advisory Board (1988-1993) and later with the PGA TOUR Policy Board (1994-2022). He served as Board Chairman from 2008-16 and Chairman of the Finance and Audit Committee on two occasions (1995-2006, 2017-2022). Ganzi and former Commissioner Deane Beman were also the architects of the TOUR’s membership pension plan, instituted in 1983 when Ganzi served as the TOUR’s tax advisor. The retirement plan is widely considered the best retirement plan in professional sports. Ganzi is the former President and CEO of Hearst Corporation, previously having served as managing partner at Rogers & Wells (now part of Clifford Chance), one of the world’s largest law firms.
“On behalf of the PGA TOUR membership, a sincere thank you to Victor Ganzi for his many contributions to the PGA TOUR over the last 35-plus years,” said Monahan. “Victor has been a loyal, valued and trusted advisor to three Commissioners during times of unprecedented growth and played an essential role in the financial strength of the PGA TOUR. Victor’s leadership as Chairman ensured success and growth in the early years of the FedExCup and he played a primary role in guiding the TOUR through the global economic recession in the late 2000s, which we came out the other side stronger than ever thanks to his careful and thoughtful leadership.”