Beer, spirits and hospitality group Adnams has hired its first female chief executive in its more than 150-year history.
Jenny Hanlon will take on the role at the Suffolk company at its annual general meeting in June.
Hanlon is currently Adnams’ chief financial officer and succeeds Andy Wood who will remain with the business until the end of the year in a consultancy capacity before retiring.
Dr Wood’s career at Adnams spans almost 30 years ago, including 14 years as CEO.
He was awarded an OBE in the Queen’s Birthday Honours 2013 and previously served as HRH The Prince of Wales’ Ambassador for Responsible Business in the East of England.
Mrs Hanlon started her career with EY and has performed senior finance roles with Greene King, Barclays, Willis plc, iprism and GRP Group. She joined the board of Adnams in 2020.
In a statement issued to the London Stock Exchange, she said: “This is a hugely exciting time to be taking the reins from Andy.
“The Adnams brand is cherished and championed by colleagues and customers, in its heartland of the East of England, across the wider UK and throughout dozens of countries around the world.
“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.”
The appointment comes after Adnams called in advisers last month to help save the firm from going down.
Adnams asked advisors “to explore a range of options to fund the company’s future growth plans.”
That was after the firm detailed its struggles in September, citing the heavy toll of both the pandemic and high inflation on the industry.
In September, Adnams reported its operating losses increased to £2.4m as it said it “cannot commit to paying an interim dividend” at the time.
It warned that its “pubs and hotels continue to be in the eye of the storm” with rural watering holes particularly affected.
On the appointment of a new CEO, Dr Wood added: “It’s been an honour and a privilege to lead Adnams, a business which is has been at the heart of our community in Suffolk for over 150 years.
“While the markets we operate in continue to face many challenges, I’m confident that Adnams has the vision and values to build on its incredible success story in the years ahead, and to remain a proud innovator in the market.”
Chairman Jonathan Adnams said: “Andy has been a driving force in building Adnams into the business it is today, leading with both principle and professionalism. We will be forever grateful for the lasting impact he has had on Adnams and wish him well for the future.
“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.”
