(Courtesy BrewDog)

We’re big fan’s of BrewDog co-founder James Watt, but not everybody is. And even though he is no longer CEO at the global brewery, his legacy lives on.

Here’s the deal…

Back in 2007, two Scottish guys—James Watt and Martin Dickie—started brewing beer in a garage and selling it out of the back of a van. Fast forward a decade, and they were running one of the most talked-about and successful craft breweries in the world.

BrewDog wasn’t just a beer brand—it was a movement.

Watt, the more outspoken of the duo, became the face of the operation. His outspoken personality championed “punk” values, anti-corporate rhetoric, and turned beer drinking into a full-blown lifestyle. But the very ethos that fueled BrewDog’s meteoric rise would eventually come back to haunt its co-founder.

From Back-of-the-Van to Billion-Dollar Valuation

BrewDog’s early days were electric. They tapped into a growing thirst for bold, flavorful beer and positioned themselves as the rebels of the brewing world. Traditional advertising? Nah. Watt and team launched crowdfunding campaigns called “Equity for Punks,” let fans invest in the company, and pulled PR stunts that ranged from hilarious to outright bizarre (like packaging beer in taxidermied animals).

The gambles paid off.

BrewDog bars spread across the globe. Supermarkets stocked their beers. Investors—big and small—lined up. In 2017, a $264 million deal with private equity firm TSG Consumer Partners catapulted BrewDog into unicorn territory. Suddenly, they weren’t just punk. They were profitable.

(BrewDog Founders James Watt and Martin Dickie)

The Culture Cracks

But behind the scenes, things weren’t nearly as fun. In 2021, a group of former employees went public with scathing claims about BrewDog’s toxic workplace culture. In an open letter, more than 60 ex-staffers accused Watt of creating a “culture of fear” that prioritized growth and PR over people.

Some said they experienced burnout. Others claimed they were belittled. Several mentioned that the “punk” culture was just a front for what felt like corporate chaos.

Watt issued a public apology, promising to listen and improve. He commissioned an independent review. But the damage was done. The company lost its B Corp status—a symbolic but stinging blow for a brand that prided itself on values.

A BBC Bombshell

In 2022, the situation escalated when a BBC documentary featured more former employees alleging troubling behavior directly tied to Watt. Some female staff claimed he made them feel “uncomfortable,” particularly during after-hours bar tours. Watt denied any misconduct and later tried (unsuccessfully) to challenge the program with the UK’s broadcasting watchdog, Ofcom.

While no legal action was taken, the public narrative shifted. The story of the scrappy underdog brewer had turned into something murkier, and Watt was increasingly cast as the villain of his own success story.

BrewDog co-Founder James Watt

Financial Headaches and a CEO Exit

Then came the money trouble. Despite BrewDog’s global footprint, the books started to bleed red. Losses mounted—£24 million in 2022, ballooning to £64 million by 2023.

Critics pointed fingers at the private equity deal. Turns out TSG’s preferred shares entitled them to a windfall in the hundreds of millions. That left many of BrewDog’s original “Equity Punk” investors feeling cheated. Watt himself admitted the structure had been “a mistake.”

In May 2024, Watt stepped down as CEO. He didn’t disappear entirely—he kept a large ownership stake and adopted the quirky title of “captain and co-founder”—but the message was clear: BrewDog was moving on without him at the helm.

Life After BrewDog

These days, Watt is still busy. He’s launched new ventures—from a TikTok-style business show to an initiative called “Corgi,” aimed at improving government transparency (think Elon Musk meets Whitehall watchdog). But public perception is mixed. Some see a visionary entrepreneur; others see a cautionary tale.

Meanwhile, BrewDog is trying to turn the page. The brand has undergone a significant rebrand in 2025, swapping out its rebellious voice for something a little more inclusive and less combative. Whether that’s enough to repair the company’s image—or if Watt’s legacy will continue to overshadow it—remains to be seen.

A Fractured legacy

James Watt built a global empire by throwing punches at the beer industry, but it was his own leadership style—and the culture he helped create—that ultimately punched back. His rise was bold and deserved. His fall, very public.

And BrewDog is struggling to  regain its economic momentum and is reimage the brewery in a less controversial manner.

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(All Image credits: BrewDog / James Watt)