Adnams chair to step down

Ahead of the firm’s AGM on 27 June, the board announced that chair Jonathan Adnams and senior independent director Steve Sharp have both notified their intention to step down at or before the 2025 AGM.

The timings of their departure will in part be determined the outcome of the review to raise additional capital, a move that the brewer announced earlier this year.​​

The Adnams board added that it has made progress in its review of options to fund its future growth plans, with interest secured from multiple parties.

A board committee is currently evaluating these proposals in order to determine which route offers the best long-term value for the company and its shareholders.

During the 12 months to 31 December 2023, Adnams suffered a pre-tax loss of £4m despite increasing sales by 3% year-on-year.

Speaking at the time, Adnams chief executive Andy Wood said: "As we continue to pursue our strategy, it's important that we leverage our distinctive strengths – as a heritage-rich, innovative company – to their fullest. The Adnams brand continues to hold significant equity and is championed and cherished by its customers.”​

Wood is due to step down from the role this month, with Jenny Hanlon set to take up the role on 1 July. Hanlon will become the first woman to serve as Adnams chief executive in its 150-year history.

In other news, Britvic rejected a £3.2bn takeover bid from Carlsberg on 17 June 2024.​​