Tim Finchem is sticking around as PGA Tour commissioner, at least for the next four years.
The PGA Tour policy board confirmed Wednesday it had given Finchem a new deal through June 2016.
"Tim has positioned the TOUR for continued growth in areas such as player prize money, charity, sponsor value and growing the game around the world," said policy board chairman Victor Ganzi. "We are fortunate that he has agreed to continue as Commissioner for another four years."
Since becoming the third commissioner of the Tour back in 1994, Finchem has overseen a period of tremendous growth as earning opportunities for players have increased substantially while charitable donations made by the Tour and its tournaments has topped $1.1-billion.
Finchem has also been responsible for the growth and development of the Presidents Cup, World Golf Championships and the FedEx Cup playoff system. He is coming off a demanding three years of an economic crisis in which the PGA Tour remained fully sponsored and recently signed a nine-year television deal with CBS Sports and NBC Sports, despite the absence of one of the game's greatest players the past two years, Tiger Woods.
"We have accomplished a lot, but there remains a great opportunity to continue to grow over the next four years," said Finchem, who will be 69 when his new deal expires.
Files from the Associated Press were used in this report