Yahoo Finance BrewDog’s James Watt to step down as chief executive of beer company
James Watt, the co-founder and chief executive of BrewDog, is to step down after 17 years at the helm of the Scottish brewer and chain of bars.
BrewDog, based in Ellon in Aberdeenshire, said Watt, who navigated the brewer’s meteoric rise from “punk” challenger to mainstream beer brand, informed the board last year of his plan to step back.
He will be replaced by the company’s chief operating officer, James Arrow. Watt still owns 21% of the business and will hold the newly created title “captain and co-founder”, remain a non-executive director and continue to advise on strategy.
In a LinkedIn post, Watt said: “During my time at the helm of BrewDog, there have been highs and lows, up and downs, crazy successes and incredibly hard challenges.”
Watt and his co-founder, Martin Dickie, started the business in a garage in Fraserburgh, Aberdeenshire, and quickly gained a reputation for risque publicity stunts that contributed to a self-styled “punk” image.
The brewer’s Punk IPA has become one of Britain’s most popular beers but Watt has struggled to maintain the image of cheeky challenger to mainstream corporate brewers, amid a string of controversies.
In 2021, Watt was accused by former workers in an open letter of presiding over a “culture of fear” within the business, with “toxic attitudes” towards junior staff. He apologised to staff and has said the group made changes after the open letter was published.
In December 2022, the group lost its B Corp status, awarded to companies that follow ethical principles.
In January, the company faced a backlash after revealing it would no longer hire new staff on the “real” living wage and would instead pay the lower legal minimum wage.
The company is believed to be pondering a stock market float.
