Brewdog boss James Watt plans to give staff 20% of his stake

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Brewdog boss James Watt plans to give staff 20% of his stake
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James Watt owns a quarter of the fast-growing Aberdeenshire-based beer maker.

The chief executive claimed the giveaway of shares could be worth £120,000 for each Brewdog salaried staffer, comprising four annual tranches starting this June.

James Watt currently holds 24.2% of the company, and the plan unveiled on Monday - to mark 15 years since it started brewing - is for him to give away 5% to an Employee Benefit Trust, reducing his stake to 19.2%. The rewards package, unusually, extends to former members of staff, including some who were particularly outspoken about Mr Watt's behaviour and the pressures they were under.

A group of 60 employees published an open letter alleging the business was built upon a "cult of personality" around its founders, James Watt and Martin Dickie, with "growth at all costs" the overarching focus of the company.Mr Watt said the group had already made changes after the open letter was published, stressing the employee reward scheme was not about mending relationships with employees, but "building the best company we possibly can".

Mr Watt said the group was unlikely to float in the next 12 months given the market uncertainty, but said a listing was "very much part" part of the plan in the medium term.

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