Chairman Announcement

Adnams PLC

12 September 2024

 

Adnams plc

Chairman Announcement

The Directors of Adnams plc ("the Company"), the Suffolk-based premium beer, spirits and hospitality group, hereby announce that Chairman Jonathan Adnams has stepped down as Chairman with immediate effect due to health reasons.

At the Company's last AGM, Jonathan informed members he was considering possibly retiring before the Company's 2025 AGM.

The Board unanimously agreed Simon Townsend, will step in on an interim basis, as Non-Executive Chairman.  Simon is already a Non-Executive Director of the Company and Chair of the Remuneration Committee.  

Joining Adnams in 1975, Jonathan began his career in brewery engineering before joining the Board in 1988. Appointed Managing Director in 1997 and Chairman in 2006, he has been instrumental in driving the Company forward in terms of innovation and sustainability, including its investment in energy-efficient brewing equipment and its world-class distillery. Jonathan was awarded an OBE in 2008 for his commitment to corporate social responsibility.

Simon, who joined the Adnams Board in January 2023, is also Chairman of Wadworth & Co, a Non-Executive Director of JW Lees & Co, a Non-Executive Director of Cote Restaurants and a Senior Advisor at global consultancy Teneo. He is also a member of the advisory board of diversity and inclusion organisation WiHTL. Previously, he has served as a Non-Executive Director of FTSE-listed housebuilder Countryside Properties plc.

The Company said that Jonathan, whose family remains a significant shareholder, would continue to support the Company until next year's AGM. 

Commenting on the move, Jonathan Adnams said: "I'm saddened to be stepping down from the Board earlier than planned but will of course continue to champion the business from the sidelines.

"Adnams has always been a lot more than just a name to me. The success of the Company has been one of the biggest priorities in my life for almost half a century and I'm immensely proud of its achievements. I'm also reassured that the principles on which we built the business - integrity, charity, innovation - are as present today as they ever were. That, as ever, is testament to its people.     

"I am very pleased to see Simon step into the role of Chairman of the Board on an interim basis. He has the expertise and experience to guide Adnams through its current transition and help secure a long-term financial solution to underpin its growth ambitions."

Simon Townsend, Interim Chairman of Adnams, said: "The Adnams family, business and community owes a debt of gratitude to Jonathan for the contribution he's made over a 50-year career. His personal commitment to innovation - in our products through to our brewing and distilling capabilities - has been instrumental in building the foundations we continue to benefit from today. Not only that, but - as a leader - he has embodied the principles and values to such an extent that they flow through every aspect of our business today.

"I'm excited about the opportunities we now face and remain fully committed to securing the long-term financial solution we need to support our growth."

ENDS

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