BrewDog’s chief executive, who turned the brewer he co-founded into the UK’s biggest craft beer brand but was accused of overseeing a “toxic” workplace culture, has stepped down after 17 years (Financial Times £). James Watt, the founder & chief executive of BrewDog, is stepping down following a turbulent period in charge of one of the country’s most successful and controversial homegrown brands (The Times £). The boss of Brewdog is stepping down following a string of controversies since setting up the Scottish brewer 17 years ago (Daily Mail).

Watt, who navigated the Aberdeenshire-based brewer’s meteoric rise from “punk” challenger to mainstream beer brand, informed the board last year of his plan to step back (The Guardian).

James Watt said he would move to a newly-created position of “captain & co-founder” and retain his shares in the company (BBC). James Watt will retain a new “captain’s” seat on the board and his shareholding, as a union organisation calls on his successor to improve pay and conditions. at the craft brewer and pub firm. (Sky News)

Anheuser-Busch Inbev shares rose more than 5% on Wednesday, in response to a strong first-quarter performance and anticipated relief from the impact of an ongoing US Bud Light boycott. (Reuters)

Annual profits at JD Wetherspoon are expected to beat the expectations of City analysts and shareholders, with sales at its pubs holding up well despite the cost of living crunch (The Times £). JD Wetherspoon expects annual profits to come in towards the ‘top end’ of market forecasts amid rising demand for Guinness and vodka among younger customers (Daily Mail).

A drugs company developing cannabis-based medicines backed by the tobacco group Imperial Brands is to delist from the London stock market, blaming turbulent UK markets for exerting “continuous, irrational and regressive pressure” on its share price (The Times £). Oxford Cannabinoid Technologies, a British biotech start-up backed by Snoop Dogg is to ditch the ‘turbulent’ London stock market after losing 97% of its value (Daily Mail).

Guy Singh-Watson is the founder of organic veg box company Riverford writes in The Guardian that the climate crisis is making the farming business unsustainable – and without support for the sector, food security will suffer too. (The Guardian)