Global consulting firm Accenture has ended its six-year sponsorship agreement with Tiger Woods, who is entangled in a scandal over his private life.
Accenture in a statement said that "it will not continue its sponsorship agreement with Tiger Woods."
With this, Accenture has become the first major sponsor to cut off its alliance with Woods altogether, following news that the golf pro was having an extra-marital affair involving several women.
"...Given 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," Accenture said, adding that "it wishes only the best for Tiger Woods and his family."
The end of the agreement comes amid Wood's announcement that he would take an "indefinite" break from professional golf to focus on family.
Accentures' marketing strategy revolved around Woods with the tagline -- "We know what it takes to be a Tiger" and "The road to high performance is not always paved."
Before the formal announcement Accenture had withdrawn Woods' image as also any reference to him from its website.
{{/usCountry}}Before the formal announcement Accenture had withdrawn Woods' image as also any reference to him from its website.
{{/usCountry}}Accenture further said it would continue to leverage its "High Performance Business" strategy and "High Performance Delivered" positioning in the marketplace.
"The company will immediately transition to a new advertising campaign, with a major effort scheduled to launch later in 2010," it added.