James Watt, the boss of beer company BrewDog, has announced that he'll be stepping down as CEO after 17 years.
He is a co-founder of the brewer and pub group, and BrewDog's chief operating officer James Arrow will step into the CEO role.
Watt will remain on the company's board as a non-executive director and will have an advisory role.
Advert
He will continue to own his 21 percent stake in the business.
In a post on LinkedIn he said: "After 17 fantastic years as chief executive, I have decided to transition into a new role in the business, one of ‘captain and co-Founder’ - and James Arrow will pick up the reins as chief executive as our business pushes forward into our next phase of growth.
“In my new role I will remain as a board member, a director and I will also be part time strategic adviser to the business and our to leadership team."
BrewDog's chairman Allan Leighton paid tribute to Watt, saying: "James Watt, alongside Martin Dickie, created this great business from a garage in Fraserburgh.
Advert
"Few have accomplished what he has.
"From very humble beginnings under his leadership, BrewDog has grown to become the world’s leading craft brewer, employing 2,530 people across its head office, four breweries and over 120 bars.
"I am especially pleased he will continue to offer his insight, creative genius and energy to the board."
Watt's time as BrewDog CEO had some controversies, as in 2021 former employees published an open letter accusing the company of a 'culture of fear' and holding 'toxic attitudes' towards junior staff.
Advert
The outgoing CEO apologised and insisted that changes had been made as a result.
Featured Image Credit: Jeff J Mitchell/Getty Images