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Augusta National chairman Billy Payne announces retirement

August 23, 2017 GMT

Billy Payne, the chairman of Augusta National Golf Club and the Masters Tournament announced he is retiring at the beginning of the Club season on Oct. 16.

Payne, 69, has served as Chairman since May 21, 2006. In retiring from this role, he will assume the title of Chairman Emeritus.

Fred Ridley will take Payne’s place as chairman.

“The privilege I experienced serving as Chairman of Augusta National and the Masters was far greater than I could have ever imagined,” Payne said. “Just as nothing can prepare you for the unique responsibilities and important decisions that come with this position, it is equally impossible to anticipate the many joys and, most importantly, the wonderful friendships that are the ultimate reward of service. This honor, however, is too great for one person to claim as their own for too long a period of time. I retire knowing it is simply the right thing to do – and at the right moment – to open the door and invite someone new to be called upon to lead, bring forth new ideas and craft a new vision that will honor our Founders and serve the game of golf for many years to come.

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“I am now proud to call upon my good friend Fred Ridley to lead Augusta National and the Masters to a future that I am confident will hold new promise, while always being faithful to the principles of Bobby Jones and Clifford Roberts. Fred will be an excellent Chairman who will serve with my complete and enthusiastic support.”

Ridley will become the seventh Chairman of the Club and Tournament. Those who previously held the post are Roberts (1933-77), Bill Lane (1977-80), Hord Hardin (1980-91), Jack Stephens (1991-98), Hootie Johnson (1998-2006) and Payne.