Brewdog co-founder and chief executive James Watt has revealed he will step down from the top role after 17 years.
He wrote in a LinkedIn post that he would maintain his 21% stake in the brewery and pub company and become “captain and co-founder” – a newly created non-executive role on the board that would see him continue to offer oversight and advice.
James Arrow, Brewdog’s chief operating officer, will succeed him.
Watt announced the decision just weeks after the TUC named him “the worst employer of the month”.
The trade union said this reflected Brewdog’s decision this year to no longer hire new staff at the “real” minimum wage, instead paying the lower legal minimum wage.
Watt drew similar criticism in 2021 after a group of former workers released a “culture of fear” within the company, with “toxic attitudes” towards junior staff.
Watt apologized saying it was “100% my fault”, later telling Sky News that he occasionally “very demanding“.
The controversy took some of the shine off the company’s enviable record at the time.
Watt, along with Martin Dickie, founded the business in a garage in Fraserburgh in 2007.
As Brewdog chairman Allan Leighton noted in his tribute: “From very humble beginnings under his leadership, Brewdog has grown to become the world’s leading craft brewer, employing 2,530 people at its headquarters, four breweries and more than 120 bars.
“I am especially pleased that he will continue to offer his vision, creative genius and energy to the board,” he added.
Brewdog has 120 bars and sells its products globally. Photo: Brewdog
Watt added: “During my time at the helm of Brewdog, there have been ups and downs, ups and downs, crazy successes and incredibly difficult challenges.
“When I look back at the last 17 years (119 dog years), my overwhelming feeling is one of gratitude.”
He said he was “also grateful for the difficult times, for the learnings they provided, for the determination they inspired and for the perspective they offered.”
He said he plans to “take time off, travel, spend more time with my family and friends.
“I’m also looking forward to being able to dedicate more time to my other business interests.”
James Watt and Georgia Toffolo are dating. Photo: Shutterstock/PA
Watt, whose girlfriend is former Made In Chelsea star Georgia Toffolo, has been investing in start-ups and last year fronted the Next Unicorn competition, splitting £1m in funding between five companies.
TUC general secretary Paul Novak said of his impending departure: “This should be a cautionary tale for bad bosses.
“If you reduce workers’ wages and conditions, you will be publicly criticized and your business will suffer.
“Brewdog’s success has been built on its workforce. They deserve to be properly valued.
“My message to the new CEO is simple: pay your employees the real living wage.”
This story originally appeared on News.sky.com read the full story
