Brewdog boss James Watt steps down from CEO role

[Rodcx500z]

James Arrow, maybe he can see the futcher

 

[Clint]

"fletcher" he can't

 

[SMP Brewery]

"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."

How very punk rock!

NOI Within 12 months.

 

[Northern_Brewer]

Oh I'm all OK with that. It's when Carlsberg, Heineken, Diageo etc. get involved.

Supposedly there was a conversation with Heineken in 2018, but the valuation was so stupid that Heineken just laughed and bought Beavertown instead.

I'm sure I read as well as the Equity for Punks shareholders they also got some "other" investors involved.

Watts and Dickie still have 44% between them. In 2017 TSG Consumer Partners bought 22%, structured as preference shares that pay out first in the event of a sale or IPO. Under this arrangement they're guaranteed an 18% return, which by now amounts to about 3.2x the £220m they put in Call it £700m in round terms. So if Brewdog were to sell or IPO at £700,000,001 then TSG would get £700m and the remaining shareholders would have to split the remaining £1 between them.

Obviously Covid has messed around with what was meant to be a short-term deal, they've extended the deadline but it now falls in August 2024 I think, which is why they've stepped up talk of an IPO as TSG need to exit for everybody's sake, and no industry buyer is going to pay the £1bn+ that Brewdog will be looking for (the last EFP valued it at around £1.8bn I think).

 

[Sadfield]

He was previously managing director of Boots Opticians.

How very punk rock!

TBF they now sell X-ray Spex and Gary Gilmore's Eyes are covered by their care plan.

 

[Sozzled Sab]

Tbh I couldn't give a toss who's in the boardroom, it would help if they made some half decent beer.

 

[Bitter_Dave]

Tbh I couldn't give a toss who's in the boardroom, it would help if they made some half decent beer.

I agree with your sentiment entirely about their beer. I went on a Brewdog beer tasting many years ago (a friend was given tickets) and the guy leading it implied there was no good beer before they came along, which I found a bit rich because (a) Punk IPA is, at best, seriously overrated (and on a personal level I can't drink the stuff); and (b) there was brewery (Harveys) down the road making fantastic beer since 1790! Note, I'm not against American-style beers either, but Sierra Nevada Pale Ale is a million times nicer than Punk IPA.

I also find the whole idea that they were punk ridiculous. They have behaved like a major corporation (with egotistical CEOs and toxic behaviour) for as long as I have been aware of them. That said, I still like London Pride and Fullers are own by an international conglomerate, so I'm not a purest about it. But don't pretend it's punk!

 

[marshbrewer]

I remember when they were deliberately unpleasant to some of the low level CAMRA beer festival organisers in order to kick up a fuss, and generate "Yeah!!!! Punks!!!!! Giving it to the old farts at CAMRA!!!" type headlines, forgetting that it was probably just someone's Gran volunteering to run an event.

Great marketers, rubbish human beings.

 

[Bitter_Dave]

... And their 'pubs' are crap too! Completely without any charm

 

[phildo79]

"captain" - what a w@nk3r.

 

[phildo79]

"

 

[Northern_Brewer]

Says IPO is "not on the immediate horizon", standing down because the job is now about management rather than building a business. Which is fair enough, although in his case you can't help feeling there's an element of yearning for the good old days of harassing the barmaids without getting called out on it...

https://www.mca-insight.com/people/brewdog-ipo-not-on-the-immediate-horizon/691247.article

 

[Brew_DD2]

Says IPO is "not on the immediate horizon", standing down because the job is now about management rather than building a business. Which is fair enough, although in his case you can't help feeling there's an element of yearning for the good old days of harassing the barmaids without getting called out on it...

https://www.mca-insight.com/people/brewdog-ipo-not-on-the-immediate-horizon/691247.article

I'm sure he's happy with his z-list celeb girlfriend and attending right wingers' birthday parties.