Pebble Beach Company CEO Bill Perocchi will step out of his role on July 1, and hand it over to current President David Stivers, who will assume both titles, the company announced today.
Perocchi, who has led the company as its chief executive for 22 years, will continue as co-chairman of the PBC board of directors, a position he's held since January 2020 with Brian Ferris and Heidi Ueberroth.
Perocchi was at the helm for the hosting of several major professional and amateur golf tournaments, including three U.S. Opens in 2000, 2010 and 2019 as well as two U.S. Amateurs in 1999 and 2018. There have been major challenges over the years that he led the company through, including a drop off in visitors after 9/11, the Great Recession in 2008 and recently Covid-19.
He's led the company since the beginning of the company, when what the LA Times called a "star-studded partnership group" purchased the 5,300-acre resort area in 1999 for $820 million from a group of Japanese investors. That group included Clint Eastwood, Arnold Palmer, former commissioner of baseball Peter Ueberroth and former United Airlines CEO Richard Ferris. Eastwood, Peter Ueberroth and Richard Ferris continue to serve on the board.
"Bill was instrumental in helping us purchase Pebble Beach 22 years ago and has had tremendous success as CEO since then," Richard Ferris and Peter Ueberroth said in a joint statement. "Possibly he greatest accomplishment has been navigating the company through some extremely difficult challenges and having our resort emerge stronger each time."
Stivers has been with the company almost as long as Perocchi—21 years, joining as executive vice president and later taking over as president in 2017. He's led sales and marketing, reservations, retail, strategic planning, technology, legal, real estate and owner relations over his time with the company.
"David has been involved in virtually every important strategic decision since the beginning of our ownership," said co-chairpersons Brian Ferris and Heidi Ueberroth in a statement. "As our next CEO, David brings a deep understanding of Pebble Beach's business and a keen mind and passion to lead the effort to capitalize on the future opportunities available to our world class resort."