Golf Company, Callaway (NYSE: ELY) announced Wednesday that Anthony S. "Tony" Thornley as Interim President and Chief Executive Officer. He will be filling in the vacancy developed by George Fellows, who resigned.Mr. Thornley, was in the Board of Callaway Golf in 2004, served from 2002 to 2005 as President and Chief Operating Officer of Qualcomm Inc. He served as Qualcomm’s Chief Financial Officer from 1994 to 2002. Until his appointment, he worked as chair of the Audit Committee of the Board of Directors of Callaway Golf and was appointed as "financial expert."Ron Beard, Chairman of Callaway commented, "Tony Thornley has a deep knowledge of Callaway's business and the steps we must take to improve results going forward. He brings decades of experience, including the financial and managerial skills and discipline to execute on our immediate priorities and to lead a transition to new leadership as the company charts a path for the future. As an avid golfer with a low single-digit handicap, he also brings passion for what we do. We appreciate George Fellows' efforts, accomplishments and wish him the best in the future. We look forward to continuing to work closely with our customers and partners as we take our next steps."Callaway also announced initial results for the second quarter of 2011.Callaway Golf (NYSE:ELY) has a potential upside of 42.2% based on a current price of $6.33 and an average consensus analyst price target of $9