PONTE VEDRA BEACH, Fla. – The PGA TOUR Policy Board announced Wednesday that former Citigroup Chief Executive Officer Mike Corbat and AutoZone Executive Chairman Bill Rhodes have been named to the PGA TOUR Policy Board as independent directors.

“We are thrilled to welcome Mike Corbat and Bill Rhodes to the PGA TOUR Policy Board during this important period in our organization’s history,” said PGA TOUR Policy Board Chairman Joe Gorder. “As the PGA TOUR continues to evolve, our partnership with our players and commitment to fans remains unwavering. Mike and Bill will play critical roles in helping us further modernize TOUR governance while preserving the player-led focus that has helped define our organization since 1968.”

The Policy Board is tasked with directing business strategies, establishing corporate policies and regulations, setting financial objectives and ensuring the financial success of the TOUR.

“In addition to their substantial professional accomplishments and exceptional leadership qualities, both of our new independent directors have a shared passion for the game of golf and the future of the PGA TOUR,” said PGA TOUR Commissioner Jay Monahan.

About Mike Corbat

Corbat spent 38 years in the financial services industry, all at Citigroup or its predecessor companies, starting with Salomon Brothers in 1983. He was tapped as chief executive officer in 2012, holding that position until his retirement in 2021.

Currently a senior advisor and board member at 26North Partners, Corbat provides strategic insights and guidance to the firm's private equity, credit and insurance ventures.

“As the business of sport continues to evolve, it is an exciting time to join the PGA TOUR Policy Board,” said Corbat. “And as someone who loves the game and is a fan at heart, working with our players to better serve fans is an incredibly unique opportunity.”

Additional Mike Corbat information

Prior to his appointment to CEO at Citigroup, Corbat held a number of leadership positions around the globe through which he gained experience in many of Citi’s business operations managing more than 200,000 employees in over 100 countries. In the aftermath of the 2008 financial crisis, Corbat was appointed CEO of Citi Holdings, and in 2011 he was named CEO of Europe, Middle East and Africa.

Corbat is a co-owner of the Jackson Hole Mountain Resort and currently serves on the Chubb board of directors.

A native of Connecticut, Corbat graduated from Harvard University in 1983 with a bachelor’s degree in economics. As a member of the Crimson football team, Corbat was named a first-team All-American in 1982 and earned All-Ivy League honors in both 1981 and 1982.

About Bill Rhodes

Currently the executive chairman of AutoZone, Bill Rhodes joined the automotive parts and accessories retailer in 1994. He held several positions before being selected as chief executive officer in 2005 at the age of 39, the youngest Fortune 500 CEO at the time.

During his 18-year tenure as CEO, Rhodes led AutoZone through significant growth and transformation, elevating it into the largest retailer of its kind in the Americas.

“I am honored to join the PGA TOUR Policy Board and serve alongside an esteemed group of directors who are so clearly invested in the future of the organization,” said Rhodes. “I am indebted to the game of golf for what it has given me from an early age, from the relationships to the life lessons, and I’m looking forward to contributing to its future in this new role.”

Additional Bill Rhodes information

Under the leadership of Rhodes, AutoZone doubled its number of stores, tripled its revenues and expanded its Americas footprint, resulting in over 7,100 stores across the United States, Mexico and Brazil, and over $17 billion in annual revenue for the 2023 fiscal year.

Rhodes currently serves on the Regions Financial Corporation Board of Directors and multiple civic boards.

A longtime resident of Memphis, Tennessee, Rhodes earned a bachelor’s degree from the University of Tennessee-Martin and an MBA from the University of Memphis. As a member of the UT-Martin golf team, Rhodes made the honorable mention All-America and Academic All-America teams during his senior year. Built in 2013, the UT-Martin on-campus golf facility was named the Rhodes Golf Center in honor of the many contributions from Rhodes and his wife, Amy.