Brewdog chief executive quits after only one year
The boss of Brewdog has stepped down barely more than a year after taking up the role in the latest twist in the long-running saga over the management of the beleaguered beer business.
James Taylor, who took up the role of chief executive at the beginning of last year and who oversaw the takeover of the business by US investment firm Tilray Brands, has stepped down with immediate effect, according to hospitality news site Propel.
It is understood that Taylor will no be replaced with a new chief executive, with Tilray execs poised to run the business as part of the firm’s international operations. Lauren Carrol, chief commercial officer at Brewdog, will continue to be responsible for day-to-day operations and will report into Rajnish Ohri, President of International at Tilray Brands.
A Brewdog spokesperson said: “James successfully led Brewdog through its ownership transition. We thank him for his contributions and wish him every success in the future.”
It comes as Tilray said it had injected as much as £50m in cash to keep Brewdog afloat following its rescue takeover, with the funds going towards fixing supply chains, reopening shuttered sites and carrying out maintenance work across the firm’s pub estate. The brewing business said it had seen double digit sales growth during the World Cup in early signs of a turnaround under new ownership.
“We were the ones funding payroll and inventories, ingredients and stuff like that. It’s in a good place but there’s still a lot of work to do,” Irwin Simon, chief executive of Tilray, said in an interview with the Times.
Taylor, who previously worked at childcare company Mayborn, was appointed chief financial officer at Brewdog in November 2023 before transitioning to the chief executive role a little over a year later.
James Watt still has sights on owning Brewdog
Taylor’s departure comes after Brewdog founder James Watt revealed he wants to buy back the craft beer firm he quit years ago, as he hit out at those who blame him for its collapse.
Watt recently launched a comeback designed to win over the “equity punks” who piled millions into his initial venture but saw no returns from its sale.
He said he hopes to use his Second Best project – which includes free stakes to those who invested in Brewdog’s investment scheme – to buy back the craft beer giant.
Watt wrote on LinkedIn: “If the opportunity ever does come around again in the future for me to buy Brewdog back, which I hope it does, then I would use the Second-Best company.”
Watt has also hit out at “ironic” claims that he was to blame for Brewdog’s collapse, insisting the business was growing “incredibly strongly” when he stepped away.