Brains chief executive to step down after 17 years
THE chief executive of one of Wales’ best known and successful consumer brands, Brains, is to stand down.
Scott Waddington, who has been at the helm of family-owned brewing and hospitality business SA Brain & Co for the last 17 years, is expected to remain in the role until late this year, with a six month period anticipated before his successor is in place.
Swansea-born Mr Waddington, 56, said now was the right time to embark on a new chapter in his career, with a focus on seeking new non-executive board roles.
Under his leadership the business, which in its last financial year to October 1, 2016, posted revenues of £135m, has achieved significant successes.
This includes its acquisition of coffee chain Coffee #1 in 2011, which now has a portfolio of 87 outlets.
The coffee chain, which is on track to reach 100 outlets this year, now accounts for nearly 20% of total group revenues.
And last year Mr Waddington oversaw a property deal that will see the company moving from its current Crawshay Street head offices and brewing operation in the centre of Cardiff to a nearby new location at Pacific Business Park off Ocean Way in Cardiff Bay.
It will move to its new offices in June, while brewing at the site is expected to start in the first quarter of 2019.
Its existing eight acre home will then be transformed into the Central Quay development scheme, which over time could see more than 2.5 million sq ft of new office, residential and leisure space built.
The scheme will have as central features the Brains branded chimney and historic brewing building.
SA Brain is a partner on the project with Cardiff-based property development firm Rightacres.
As chief executive, a role he took up in 2001, the company has maintained a high public profile with sponsorships deals including with the WRU, which saw the Brains brand appearing on the jerseys of the national team, and the Football Association of Wales.
It has also continued to invest in its pubs estate as well as seeing strong growth in food sales.
Chairman of SA Brain & Co, John Rhys said: “Scott has been a distinguished leader of the company over the past 17 years.
“I have enjoyed working with him during that time and look forward to doing so over the coming months whilst we search for the right person to lead the business into the next stage of our development.”
Mr Waddington, who began his career with Bass before taking up senior roles with the likes of Carlsberg and Century Inns, said: “It has been a privilege to lead such an iconic Welsh company and I would like to thank all my colleagues over the years for making my time here so rewarding and enjoyable.
“With a number of our strategic priorities now reaching their conclusion, this felt like the natural time for me to move on to new challenges and to hand over to a new leader to take this great business on to its next stage of development.
“I look forward to working with John to ensure a smooth handover to my successor later this year.”