Accenture Drops Tiger Woods

The consulting firm has decided to discontinue its sponsorship agreement with the PGA star after recent publicized events in Woods' personal life -- centering around reports he has had extramarital affairs -- have changed the context of that connection. Woods and Accenture have had a high-profile and successful sponsorship arrangement for six years. Accenture's ad campaign centered around using Woods' achievements on the golf course as a metaphor for business success. The firm used the slogan: "We know what it takes to be a Tiger." The consultancy is clearly concerned that the negative publicity surrounding Woods could rub off.

"[G]iven the circumstances of the last two weeks, after careful consideration and analysis, the company has determined that he is no longer the right representative for its advertising," according to a statement from the company.

Accenture said it wishes "only the best for Tiger Woods and his family," the statement said.

The company intends to continue its mantras of "High Performance Business" strategy and "High Performance Delivered" in the marketplace but will immediately transition to a new advertising campaign, with a major effort scheduled to launch later in 2010. Accenture is not alone in seeking to dismiss Woods. Gillette and Gatorade (owned by Pepsi) also have announced their intention to drop advertising featuring the golfer.

Endorsements make up an enormous portion of Woods' income: $92 million of his $99.7 million annual pay comes from endorsements, according to Sports Illustrated's 2009 "Fortunate 50" ranking of top-earning U.S. athletes. No figure was given regarding the value of his contract with Accenture.