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Adnams PLC on Monday said Andy Wood plans to step down as chief executive officer at the end of 2024.
The Suffolk, England-based brewery said that over the coming 18 months, Wood will continue as CEO, in order to assist in a smooth transition to his successor.
According to Adnams website, Wood joined the company in the mid 1990’s and then became CEO in 2010.
A succession process, which will be led by Senior Non-Executive Director Steven Sharp, will consider both internal and external candidates.
The company noted that a further announcement will be made when appropriate.
Chair Jonathan Adnams said: ‘On behalf of the board and all stakeholders, I would like to thank Andy for his continuing dedication and support and his commitment to ensuring there is a full handover to his successor, once appointed.’
Adnams shares fell 3.3% to 5,800 pence each on Monday afternoon in London.
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