UK brewer and pub group Adnams has promoted its CFO Jenny Hanlon to CEO, replacing retiring Dr Andy Wood.
Hanlon has been with the brewer since 2020, when she joined its board. She has held previous financial roles at Greene King, Barclays and GPR Group. She will take the top role 1 July.
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She succeeds Dr Wood, who has served as Adnams’ CEO since 2010. Adnams said he will remain in a consultancy capacity until the end of the year.
“Looking ahead, what’s important is that we keep evolving and keep innovating – our brand and product portfolio, our brewing, distilling and distribution operations and our estate – while continuing to support our customers, communities and colleagues with the same values and commitments which have served us so well,” Hanlon said.
The company’s portfolio of brands includes Ghost Ship and Old Ale. The group also operates approximately 45 pubs and inns across the UK.
Last month, Adnams appointed advisers to work fundraising efforts as the pub group looks to bolster its finances.
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By GlobalDataApproached by this publication, a spokesperson for Adnams said: “We have instructed advisors to explore a range of options to fund our future growth plans.”
In its last reported public accounts, Adnams posted a loss of £2.4m ($3m) for the six months ended 30 June 2023. The group’s turnover in the period was £29m but it had operating expenses of £32.5m. Creditor amounts that were due a year from that period were stated to be £17.4m.
“Operating losses increased to £2.4m on the back of continued pressure on input prices and reduced demand, particularly in quarter one of the year. Cash generation remains a focus for the company alongside managing levels of borrowing in the current higher interest rate environment,” Adnams’ chairman Dr Jonathan Adnams said when the accounts were filed.
On the appointment of Hanlon to CEO, Dr Adnams said: “Jenny is the ideal candidate to lead us through the next chapter of Adnams’ evolution, both in stabilising our financial footing but also capitalising on Adnams’ unique strengths.”
