William Grant & Sons has confirmed that its CEO Søren Hagh has resigned from his position at the company.

Hagh had been chief executive at the Glenfiddich maker for almost two years.

The company said in a statement: “The board wishes him [Hagh] well in his future endeavours.”

The group's CFO and CCO Graeme Jenkins and Doug Bagley have been picked to lead the business.

Just Drinks asked William Grant & Sons to confirm why Hagh had resigned as well as whether the group had started searching for a new CEO but the company declined to comment further.

The Balvenie brand owner had previously refused to comment on a report about Hagh's departure earlier this week.

Trade publication Global Drinks Intel, citing unnamed sources on Monday (3 November) reported Hagh had exited the CEO role.

Approached by Just Drinks, a spokesperson for the Glenfiddich maker said: “WG&S is not providing a comment on this matter.”

The spokesperson indicated they may be issuing a statement in the next 24 hours.

A filing with the UK business register Companies House, lodged earlier this week, said Hagh’s appointment as director had been terminated last Friday (31 October).

Hagh joined the Hendrick's Gin maker in January 2024 from Heineken, where he was chief of the Dutch brewer’s European business.

In 2024, William Grant & Sons saw its revenue decline 6.5% to £1.83bn. Profit before tax fell 30% to £388m.

It said the year had been “marked by industry-wide challenges” and the result was “in line with market trends, including the continuation of significant destocking”.

The group added the fall in profits “reflects both these market conditions but also continued investment in the company’s brands and infrastructure, demonstrating confidence in the future of the spirits industry”.

In September last year, the company revealed its intention to acquire the Famous Grouse from Edrington. The deal also included Naked Malt Scotch whisky.

William Grant’s portfolio includes Scotch whiskies such as Glenfiddich, Grant’s and The Balvenie.

The company also has a presence in gin, rum, Irish whiskey and liqueurs through Hendrick’s, Sailor Jerry, Tullamore Dew and Drambuie.