Adnams’ chair retires after nearly 50 years at the brewery

Adnams chairman has left the brewery with immediate effect for unspecified health reasons.

Jonathan Adnams announced in June his intention to retire from the Suffolk-based company ahead of its annual shareholder meeting next year.

He has worked for the company, founded in 1872 by his ancestors George and Ernest Adnams, since he started as a brewing engineer in 1975.

Mr Adnams eventually joined the company’s board of directors in 1988, before becoming its chief executive in 1997 and then chairman nine years later.

During his tenure as chairman, the group was the first in the UK to brew a carbon-neutral beer, East Green, and legally open a distillery within a brewery.

He also created the successful low-alcohol beer Ghost Ship 0.5% and developed his first cider, Wild Wave, by blending sweet and sour English apples.

Adnams said he was “saddened” to be leaving “earlier than planned” but would “continue to champion the business from the sidelines”.

He added: “For me, Adnams has always been much more than just a name. The success of the company has been one of the highest priorities in my life for almost half a century and I am immensely proud of its achievements.”

Mr Adnams is the latest of the brewer’s senior executives to leave the company this year, following the departure of chief operating officer Dr Karen Hester, who spent 36 years at Adnams, and chief executive Andy Wood, who stepped down in June.

Non-executive director Simon Townsend, who was previously chief executive of Ei Group, once Britain’s largest pub operator, has been appointed interim chairman.

Townsend praised Jonathan Adnams’ contribution to the company, saying his “personal commitment to innovation” had been “fundamental in building the foundations from which we continue to benefit today.”

In addition to his role at Adnams, Townsend chairs independent brewer Wadworth and holds non-executive director positions at JW Lees Brewery and Cote Restaurants.

His promotion to president comes after a difficult few years for the company, caused in part by weaker demand for draft beer, reduced consumer incomes and rising energy prices that are pushing up brewing costs.

Adnams also said trading had been hit by rising interest rates, industrial unrest and former Prime Minister Liz Truss’s controversial “mini-budget”.

The company blamed inflationary pressures for seeing its operating loss more than double to £2.5m in 2023, its fourth consecutive annual loss.

In February, the group confirmed it was speaking to advisers about the possibility of raising funds to help secure its financial future.

Suggestions he was considering included “a fresh injection of capital” or the sale of some wholly owned assets.