Billy Payne Retiring As Masters, Augusta National Chairman

Chairman of Augusta National Golf Club Billy Payne speaks during a news conference before the Masters golf tournament in Augusta, Ga., Wednesday, April 7, 2010. The tournament begins Thursday, April, 8. (AP Photo/Rob Carr)

Rob Carr / Associated Press

Billy Payne is retiring as chairman of Augusta National and the Masters, ending 11 years of substantial change that included the club having its first female members and playing a leading role in growing the game around the world.

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Payne officially retires on Oct. 16 when the club opens for a new season.