Brewdog boss James Watt steps down from CEO role
The boss of Scottish beer giant Brewdog is to step down from his role as CEO of the company.
James Watt said he would move to a newly-created position of “captain and co-founder” and retain his shares in the company.
His role will be taken over by chief operating officer James Arrow.
Mr Watt co-founded the Scottish brewery and pub group in Fraserburgh, Aberdeenshire, in 2007 alongside Martin Dickie.
In a statement Mr 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, in Aberdeenshire.
Last year, the firm expanded into the Chinese market in a joint venture with brewing giant Budweiser.
Brewdog’s revenue grew to £321.2m in the 2022-23 financial year.
Mr Watt’s tenure has been marked by controversy in recent years.
The company has faced criticism for its marketing campaigns, as well as its workplace culture.
The firm was accused by former workers in an open letter in 2021 of having a “culture of fear” within the business with “toxic attitudes” towards junior staff.
Mr Watt apologised to staff and since insisted the group had made changes.
And in January, Brewdog also faced a backlash after revealing it would no longer hire new staff on the real living wage, instead paying the lower legal minimum wage.
The company is known worldwide for its craft beers and IPAs
BrewDog chairman Allan Leighton said “few have accomplished” what Mr Watt has.
He said: “I am especially pleased he will continue to offer his insight, creative genius and energy to the board.”
Mr Watt will be replaced by James Arrow, who was hired as chief operating officer last September as forward planning for Mr Watt’s replacement.
He was previously managing director of Boots Opticians.
Before this, he spent a decade at Dixons Carphone, where he held senior roles across e-commerce, trading, operations, sales and transformation.