The Business On... Stephen Goodyear, Chief executive, Young & Co


What's Mr Goodyear up to?

The boss of Young's yesterday said he was selling the company's 40 per cent stake in the Wells and Young's Brewing Company to Charles Wells, its joint venture partner, for £151m. After 180 years in brewing, Young's is now a standalone pub company.



So this life-long brewer is a brewer no longer?

That's right. Mr Goodyear started his career as an 18-year-old at Courage. On his first day at the brewery in Putney he was "completely drunk" by lunchtime on Bulldog bitter and pale ale. He was sent home on the bus. So while he's not been in brewing for as long as Young's itself, he is still something of an industry lifer.



Was this decision a bit of a wrench then?

Mr Goodyear is a businessman first and foremost. He's said before that he cares about tradition but it won't stop him making hard strategic decisions for shareholders. This appears to be one of them. "This transaction is mutually beneficial" to both companies, he declared yesterday.



It's not the first such strategic move though, is it?

No. Mr Goodyear was appointed to the top job at Young's in 2003,having joined the company from Courage in 1995. One of his first big decisions was to sell off the 400-year-old Ram Brewery site in south-west London for £69m. There was a bit of a fuss about it at the time, but Mr Goodyear was unfazed.



Are the real ale crew cross?

Rest assured. Mr Goodyear says: "We are pleased to retain good supply agreements and our customers will therefore continue to enjoy their customary array of quality cask ales and lagers throughout our estate." You'll still be able to drink Young's beer in Young's pubs, although a three-year supply agreement between the two companies is now a two-year deal.



What's next?

Real ale lovers may be bitter, but it's food that provides the froth of financial success for pub companies these days. Mr Goodyear will use the money to pay for an expansion of the Young's estate and to serve up a treat for diners rather than drinkers.

Start your day with The Independent, sign up for daily news emails
PROMOTED VIDEO
News
ebooksNow available in paperback
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs People

Recruitment Genius: HR Manager

£25000 - £30000 per annum: Recruitment Genius: They are in need of a HR Manage...

h2 Recruit Ltd: Business Development Manager - HR Consultancy - £65,000 OTE

£35000 - £40000 per annum + £65,000 OTE: h2 Recruit Ltd: London, Birmingham, M...

Day In a Page

Jeb Bush vs Hillary Clinton: The power dynamics of the two first families

Jeb Bush vs Hillary Clinton

Karen Tumulty explores the power dynamics of the two first families
Stockholm is rivalling Silicon Valley with a hotbed of technology start-ups

Scandi crush: Stockholm is rivalling Silicon Valley

Th Swedish capital is home to two of the most popular video games in the world, as well as thousands of technology start-ups worth hundreds of millions of pounds – and it's all happened since 2009
Did Japanese workers really get their symbols mixed up and display Santa on a crucifix?

Crucified Santa: Urban myth refuses to die

The story goes that Japanese store workers created a life-size effigy of a smiling "Father Kurisumasu" attached to a facsimile of Our Lord's final instrument of torture
La Famille Bélier is being touted as this year's Amelie - so why are many in the deaf community outraged by it?

Deaf community outraged by La Famille Bélier

The new film tells the story of a deaf-mute farming family and is being touted as this year's Amelie
Calls for a military mental health 'quality mark'

Homeless Veterans campaign

Expert calls for military mental health 'quality mark'
Racton Man: Analysis shows famous skeleton was a 6ft Bronze Age superman

Meet Racton Man

Analysis shows famous skeleton was a 6ft Bronze Age superman
Garden Bridge: St Paul’s adds to £175m project’s troubled waters

Garden Bridge

St Paul’s adds to £175m project’s troubled waters
Stuff your own Christmas mouse ornament: An evening class in taxidermy with a festive feel

Stuff your own Christmas mouse ornament

An evening class in taxidermy with a festive feel
Joint Enterprise: The legal doctrine which critics say has caused hundreds of miscarriages of justice

Joint Enterprise

The legal doctrine which critics say has caused hundreds of miscarriages of justice
Freud and Eros: Love, Lust and Longing at the Freud Museum: Objects of Desire

Freud and Eros

Love, Lust and Longing at the Freud Museum
France's Front National and the fear of a ‘gay lobby’ around Marine Le Pen

Front National fear of ‘gay lobby’

Marine Le Pen appoints Sébastien Chenu as cultural adviser
'Enhanced interrogation techniques?' When language is distorted to hide state crimes

Robert Fisk on the CIA 'torture report'

Once again language is distorted in order to hide US state wrongdoing
Radio 1’s new chart host must placate the Swifties and Azaleans

Radio 1 to mediate between the Swifties and Azaleans

New chart host Clara Amfo must placate pop's fan armies
Homeless Veterans appeal: 'It's life, and not the Forces, that gets you'

Homeless Veterans appeal: 'It's life, and not the Forces, that gets you'

The head of Veterans Aid on how his charity is changing perceptions of ex-servicemen and women in need
Torture: It didn't work then, it doesn't work now

Torture: It didn't work then, it doesn't work now

Its use is always wrong and, despite CIA justifications post 9/11, the information obtained from it is invariably tainted, argues Patrick Cockburn