Adnams has appointed a new chief executive, following the planned departure of Andy Wood.

Jenny Hanlon, previously the company’s chief financial officer, succeeds Wood, who will remain with the business until the end of the year in a consultancy capacity before he retires.

The appointment, which follows a long-term succession plan announced last July, was approved by the Adnams board on March 28.

Hanlon, who is the company’s first female CEO in its 150-year history, started her career with Ernst & Young and has held senior finance roles with companies including Greene King and Barclays.

She said: “Looking ahead, what’s important is that we keep evolving and keep innovating – our brand and product portfolio, our brewing, distilling and distribution operations and our estate – while continuing to support our customers, communities and colleagues with the same values and commitments which have served us so well.”

Wood added that it has been “an honour and a privilege” to lead Adnams.

He added: “While the markets we operate in continue to face many challenges, I’m confident that Adnams has the vision and values to build on its incredible success story in the years ahead, and to remain a proud innovator in the market.”

The appointment follows reports last month that Adnams had called in advisers to explore options to raise funds to secure its financial future.