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Thursday, March 23, 2023

BrewDog exec McDowall resigns to run Slug & Lettuce owner | business news

One of BrewDog’s top executives is stepping down to become the new head of the pub and bar giant behind the Slug & Lettuce chain.

Sky News has learned that David McDowall, Chairman and COO of BrewDog, is joining the Stonegate Group, which operates from 4,500 pubs across Britain.

An industry source said the appointment would be announced publicly later on Wednesday.

Mr. McDowall, who has worked for BrewDog in senior roles for the past eight years, will replace Simon Longbottom, the longtime boss of Stonegate.

The outgoing boss is expected to resign in the first quarter of next year.

McDowall’s decision to leave comes amid persistent speculation that BrewDog, which now has 100 bars of its own, will eventually look to join the public markets.

At Stonegate, you’ll join the UK’s largest pub operator, with brands including Be At One, Popworld and Walkabout.

Stonegate has been majority owned by TDR Capital since it was formed in 2010 through the acquisition of 330 pubs from Mitchells & Butlers.

The leadership transition will be announced as pub operators in Britain warn they are being hit by rising energy costs, leading to predictions of mass closures.

Stonegate could not be reached for comment.

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