Allan Leighton to Chair Brewdog: First public listing for a craft brewer beckons
While I’ve argued that the appointment of Allan Leighton, former Royal Mail Chair and current Chair of the Co-Op as Brewdog Chair is an opportunity for the brewer to at last recognise a union, the actual purpose of his arrival is rather different.
As the I Paper noted the presence of a fully independent chair is a requirement of the UK Corporate Governance Code. Compliance of that is needed for Brewdog to seek a public listing (IPO) for the company.
A public listing allows for general trading in shares, rather different to its current private equity arrangements.
James Watt has continued to say that Brewdog plans to remain independent but that can never be fully guaranteed once a company is listed.
According to Brewdog Leighton will provide experience on leadership and governance matters
None of this directly impacts on the beer but it does mean Brewdog will become the first craft brewer to go public. Others of course have done so by virtue of being taken over by Big Beer concerns
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