James Watt, the co-founder and Chief Executive of BrewDog, is stepping down after 17 years at the helm of the Scottish brewer.
Watt, who oversaw the company’s rise from a challenger craft beer maker to one of the industry’s leading suppliers, is said to have informed the board last year of his plan to leave the role. He will be replaced by James Arrow, who joined BrewDog last September as Chief Operating Officer.
Watt still owns 21% of the business and will hold the newly created title “captain and co-founder” and continue to advise on strategy.
In a statement, 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.
“When I look back on the last 17 years, my overwhelming feeling is one of gratitude.”
BrewDog now has breweries and pubs worldwide but has retained its headquarters in Ellon, Aberdeenshire. Last year, the firm expanded into the Chinese market via a joint venture with Budweiser.
BrewDog’s revenue grew to £321.2m in its last financial year. Recent reports have suggested that the company is considering a stock market float.
Company Chairman Allan Leighton said that “few have accomplished” what Watt has, adding: “I am especially pleased he will continue to offer his insight, creative genius and energy to the board.”
