Recently, a former Anheuser-Busch executive called on the company’s current CEO to step down amid the fallout from the disastrous Dylan Mulvaney collaboration. Anson Frericks is the former President of Sales and Distribution at Anheuser-Busch and has slammed leadership at the company for the consequences of the boycott.
Frericks has called for Brendan Whitworth to resign from his position as CEO of Anheuser-Busch, claiming the current executive should leave before doing more damage to the company. Frericks pointed out that AB InBev has already lost billions of dollars in market value. The former AB InBev executive claimed Whitworth had multiple opportunities to correct the mistakes Bud Light made but failed to do so.
Frericks stated, “Whitworth has clearly shown himself to be incapable of solving the Mulvaney crisis. He’s had multiple chances and he’s failed.” He criticized Whitworth’s responses as “bland” and insinuated that shareholders had more interest in forcing him out of the company.
Anheuser-Busch has faced enormous financial consequences since the Dylan Mulvaney backlash began. Frericks pointed out, “After all, the beer company’s decision to make trans-activist Dylan Mulvaney the face of Bud Light has cost a staggering $20 billion – and counting – in lost market cap value.” Bud Light has also seen sales that are continuing to plummet week-over-week since the boycott began in April.
The former AB InBev executive noted that Mulvaney blasted Bud Light recently for not showing enough support to the transgender influencer. Frericks claimed that Anheuser-Busch should have cut ties sooner with the influencer instead of allowing the boycott to rage on. Frericks said, “Mulvaney did something Whitworth should have had the wisdom to do weeks ago – cut ties.”
Frericks further slammed AB InBev’s leadership as “weak” and “indecisive” based on their handling of the Mulvaney crisis. He called out Whitworth’s recent statement that the company “will focus on what we do best – brewing great beer for everyone and earning our place in moments that matter to our consumers,” alleging that it means nothing.
Frericks continued, “And it will only deepen the chasm between the brand and its customers.” Based on his claims, Frericks ultimately stated that shareholders and board members should ask Whitworth to resign. “As such – and I take no pleasure in passing this judgment – it’s clear to me that it’s time for the shareholders and board of Anheuser-Busch to ask Whitworth to step down,” he said.
In conclusion, Frericks claimed that the current CEO had demonstrated leadership incapable of rerouting Bud Light and Anheuser-Busch out of the Mulvaney crisis. “Whitworth has clearly shown himself to be incapable of solving the Mulvaney crisis. He’s had multiple chances and he’s failed. It’s time he did the right thing and stepped aside to make way for someone capable of righting the sinking Bud Light ship,” he said.
Anson Frericks left Anheuser-Busch to cofound Strive Asset Management, a conservative investment firm. He has slammed “stakeholder activism” and other forms of woke business practices such as ESG. His firm seeks to combat the woke financial activism of corporations around the country.
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