BrewDog to give staff shares worth £120,000 and split of bar profits
Co-founder James Watt says he will give away 3.7 million shares in the company that will be distributed evenly among all salaried team members, amounting to 5% of the company.
Team members will receive approximately £30,000 a year in shares over the next four years, based on the company's recent valuation of £1.8bn, with the first award of shares due in June 2022.
The value will be worth around £120,000 per person over the next four years, but it “could be considerably more if we continue to grow strongly and reach our goals as a business,” says the company.
The brewer’s 1,500 bar staff will receive an extra £3,000 to £5,000 a year in salary, based on last year's figures, it also says.
Making the announcement in its BrewDog Blueprint, published to mark the Scottish brewer’s 15-year anniversary, the company says the move is part of its roadmap for the future built on its three foundational pillars:
beer, people and planet.
“This radical new initiative is about ensuring we win collectively and fully recognise all of the hard work that our fantastic team put into our business. The road ahead is definitely going to be exciting, but it is fair to say that it is not always going to be easy – high growth and striving to redefine an industry never is. Our Hop Stock programme will ensure that we are all in this together as we build the future of BrewDog,” it says.
The company came under fire last year when former employees alleged that it fostered a 'culture of fear' among staff.
An open letter from a group calling itself ‘Punks without Purpose’ claimed a 'significant number' of former staff had 'suffered mental illness as a result of working at BrewDog', which was signed by more than 100 former BrewDog staff.
BrewDog says that the company is now more than 25% owned by its team and Equity Punk community, “who will play a huge part in the next chapter of the story of this remarkable business”.
The company has also launched a free-to-join alumni club for any former employees that offers a lifetime discount of 10% in all of its bars, a lifetime discount of 10% in its online shop, a 12 pack of beer every December, and an invite to a BrewDog Alumni Online social event every year, among other benefits.
