(Added information on other sponsors.)
Unlike other sponsors that have limited Tiger Woods' roles in their marketing programs, Tag Heuer was direct about telling reporters the reason behind the decision. The company's CEO Jean-Christophe Babin on Friday told Swiss daily, Le Matin, that the company was responding to "recent events" surrounding Tiger.
"We recognize Tiger Woods as a great sportsman but we have to take account of the sensitivity of some consumers in relation to recent events," Babin said.Tag Heuer will continue to work with Tiger Woods' charitable foundation, according to the Swiss daily. Meanwhile, Nike (NKE - Get Report) and Electronic Arts (ERTS) continue to support Woods through his personal hardships, and Golf Digest says it isn't planning on changing its contract with Woods. He is a contributor editor at the publication. P&G's (PG - Get Report) Gillette on the other hand, says it will reduce his role in their marketing campaigns, while AT&T (T - Get Report) announced that it is reviewing its ties with Woods. PepsiCo's (PEP - Get Report) Gatorade division says it is in talks with Woods' agent, without disclosing the details. >> The Tiger Woods Stock Index -- Reported by Andrea Tse in New York Follow TheStreet.com on Twitter and become a fan on Facebook.