<\/p>\n
Departed: James Taylor<\/p>\n
BrewDog chief excecutive James Taylor has stepped down just three months after the company collapsed and was bought by the US medical cannabis and drinks firm Tilray Brands.<\/p>\n
Mr Taylor, whose departure was confirmed in a Companies House filing, took over at the Aberdeenshire-based brewing and pubs company in March last year.<\/p>\n
He set about turning around the business amid continuing losses it had run up during an over-ambitious expansion strategy.<\/p>\n
He is the third CEO to step down at BrewDog in just over two years after co-founder James Watt and his successor James Arrow left within a year of each other.<\/p>\n
The company posted a \u00a336.6m loss in the year to the end of December 2024, while it was reported last year that nearly 2,000 pubs across Britain stopped selling its beer.<\/p>\n
US company Tilray acquired BrewDog in a pre-pack administration deal for \u00a333 million, a huge fall from its \u00a31 billion-plus valuation.<\/p>\n
The business left \u00a320m in unpaid bills to nearly 500 firms when it folded, and owed\u00a0\u00a3553.8m at the point of its sale to Tilray.<\/p>\n
Tilray has already pumped around \u00a350m into the business to re-establish supply chains and reopen some pubs. CEO Irwin Simon said earlier this week that Tilray was \u201creally happy\u201d it acquired a \u201cphenomenal brand\u201d.<\/p>\n
It said it is not seeking to replace Mr Taylor as it restructures the business. A spokesman said: \u201cBrewDog now sits under Tilray International and within this structure isn\u2019t a requirement for a full-time chief executive.<\/p>\n
\u201cJames successfully led BrewDog through its ownership transition. We thank him for his contributions and wish him every success in the future.\u201d<\/p>\n
BrewDog chief commercial officer Lauren Carrol oversees day-to-day operations and reports to Rajnish Ohri, the president of Tilray\u2019s operations business.<\/p>\n
Last month, Tilray\u00a0introduced nine of its US beer brands\u00a0to the UK through BrewDog\u2019s bars.<\/p>\n
Meanwhile, former BrewDog co-founder James Watt is returning to the beer sector with a new venture, Second Best. He\u00a0plans to offer up to 19.3% of the business\u00a0to former punk investors in BrewDog.<\/p>\n
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\t #BrewDog #CEO #departs #months #takeover #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
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