BrewDog has appointed its second CEO in the space of a year.
James Taylor, the brewer’s current CFO, is to step into the top spot, replacing James Arrow.
Arrow had decided to step down after just nine months at the helm for “personal reasons”, said BrewDog. He was appointed in May 2024, replacing BrewDog co-founder and long-standing CEO James Watt.
“The Board would like to thank James Arrow for his contribution to BrewDog, first as COO, before taking over as CEO in 2024, in particular overseeing the restructuring of the US business, strengthening the company’s operational framework, and driving its on-trade presence, including a landmark partnership with the MCC at Lord’s,” a statement from BrewDog said.
Read more: What’s next for BrewDog as CEO James Watt steps back?
Prior to joining BrewDog in October 2023, Taylor held senior leadership roles at childcare company Mayborn.
“James Taylor has been an instrumental leader at BrewDog, steering the financial strategy and laying a strong foundation for profitable growth,” said Allan Leighton, chairman of BrewDog. “His deep understanding of our business, coupled with his proven track record in operational excellence, makes him the ideal choice to guide BrewDog into its next chapter.”
BrewDog has also appointed Lauren Carrol to be its new COO. Carrol joined BrewDog in 2018 and was appointed CMO in 2022. The position was last held by Arrow, prior to his appointment as CEO.
Sales at BrewDog climbed 12% to £280.9m in the year ended 31 December 2023. Underlying trading EBITDA losses, meanwhile, improved from £12.8m in 2022 to £2.5m in 2023, but pre-tax losses soared to £59m, up from £25m in 2022.
BrewDog attributed the losses to “one-off impairment costs related to historic acquisitions and restructuring”.
Updating on its performance in the first six months of 2024 in October, BrewDog said it had generated revenues of £137.5m, flat year on year.
It was, “on track” to return to profitability this year, however, it added.
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