BrewDog CEO James Watt to donate a fifth of his personal stake to staff
BrewDog founder and CEO James Watt is to reward the company’s people with a fifth of his personal stake in the business to celebrate BrewDog’s 15th anniversary.
James Watt is donating a 5% stake in the business, worth £100 million at BrewDog’s most recent fundraising valuation, to BrewDog’s 750 salaried crew members.
Based on the most recent fundraising valuation of £1.8 billion, the award will be worth around £30,000 a year over four years to each crew member when the scheme begins in June this year.
The share award is to be worth even more if the company meets its current growth targets, potentially giving the company’s staff an even bigger share of the company.
In a statement, BrewDog said: “The radical giveaway of over 3.7 million shares, to be distributed evenly among all qualifying participants, underlines the founder’s unwavering commitment to the BrewDog team as the company prepares for the next chapter of growth as set out in the Blueprint, a plan which includes massive investment in its Ellon HQ, numerous people and culture initiatives, a continued focus on sustainability, broadening out into spirits, and international expansion.
Following the giveaway, BrewDog’s salaried crew members and Equity Punk shareholders will own 25% of its shares, owning the biggest stake in the business between them.
Furthermore, BrewDog is completely changing how its bars operate. Each BrewDog bar is now going to share 50% of its profits with team members. This scheme is the first of its kind as BrewDog looks to “reward team members” in a new way.
BrewDog CEO James Watt said the moves would put the company’s 2,200 crew members across the world at the centre of the business. He said: “These radical new initiatives are about ensuring we win together and fully recognise the hard work that our fantastic team puts into our business. Our team and our equity punk community are now collectively the largest shareholder in BrewDog, making us truly a people powered business.
“The road ahead is going to be exciting, but it won’t be easy. Redefining an industry never is. The share giveaway and profit share scheme will ensure that we are all in this together as we look to write the next chapter in the BrewDog story.”
BrewDog chairman Allan Leighton added: “We’re delighted to be taking this step, and to be sharing the success of BrewDog with our people. There is no better way to ensure that a company thrives than to give its people a stake in its future success. These are the perfect initiatives to mark the next stage in the evolution of the business and take our people with us on that journey. This is a company that has shown over 15 years of revolutionising the brewing industry that it is ready to do things differently and I am very proud to chair it.”