Millionaire Brewdog boss quits 17 years after co-founding pub group

8 May 2024, 11:42 | Updated: 8 May 2024, 11:47

Millionaire Brewdog boss James Watt has quit 17 years after co-founding the pub group.

Mr Watt will hand over the reins to chief operating officer James Arrow.

He is set to remain a part of the business as a non-executive director on the board and continue to advise the group on strategy.

Mr Watt first told the board last year he wanted to step away to focus on his other projects and interests, with the group quickly putting in place succession plans.

He will move to the newly-created role of "captain and co-founder" and will retain his 21% shareholding in the firm.

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In a Linkedin post, Mr Watt said: "After 17 fantastic years as chief executive, I have decided to transition into a new role in the business, one of 'captain and co-founder' - and James Arrow will pick up the reins as chief executive as our business pushes forward into our next phase of growth.

"In my new role I will remain as a board member, a director and I will also be part time strategic adviser to the business and our to leadership team."

Brewdog chairman Allan Leighton said: "James Watt, alongside Martin Dickie, created this great business from a garage in Fraserburgh.

"Few have accomplished what he has.

"From very humble beginnings under his leadership, Brewdog has grown to become the world's leading craft brewer, employing 2,530 people across its head office, four breweries and over 120 bars.

"I am especially pleased he will continue to offer his insight, creative genius and energy to the board."

Mr Watt's tenure has been marred by controversy in recent years, with former workers accusing the firm in an open letter in 2021 of having a "culture of fear" and "toxic attitudes" towards junior staff.

The boss apologised to staff and has since revealed that the group has made changes.

In January this year, the company also faced a backlash after revealing it would no longer hire staff on the living wage and instead will pay the lower legal minimum wage.

Speaking about his time with the company, Mr Watt said: "There have been highs and lows, up and downs, crazy successes and incredibly hard challenges.

"When I look back on the last 17 years (119 Dog Years) my overwhelming feeling is one of gratitude."

He said he was "grateful for the tough times too, for the learnings they provided, the resolve they instilled and the perspective they offered".

He said he plans to "take a bit of time off, to travel, to spend more time with my family and friends.

"I am also looking forward to being able to dedicate some more time to my other business interests," he added.