The jewellery company has already removed all in-store advertisements featuring Tiger Woods from its Australian branches, and says it may do the same worldwide. It will, however continue to support Woods’s charitable foundation.
The company’s chief executive Jean-Christophe Babin, said it was forced to take action following “recent events”. Tag Heuer is the third sponsor to react to the news.
Management consultancy firm Accenture and shaving products giant Gillette have already said they will cut back Woods’s role.
Babin says: “We recognise Tiger Woods as a great sportsman but we have to take account of the sensitivity of some consumers in relation to recent events.”
Woods has been surrounded in a media storm since a disturbance outside his house three weeks ago and has admitted being unfaithful to his wife.
Nike, Woods’s biggest sponsor, has said it will stick with the golfer, as has Electronic Arts.
Woods is currently on an indefinite break from golf to try to repair the damage to his family life.
His alleged infidelities could cost the US PGA, television networks and Nike $220m (£136m) in lost revenues, according to observers.