Staff Reports
Former Anheuser-Busch executive Anson Frericks recently took a swing at current CEO Brendan Whitworth in a scathing interview with Fox Business. Frericks didn’t hold back, criticizing Whitworth’s leadership and suggesting that the company’s future is in jeopardy under his watch. And you know what? Frericks might just be onto something.
While Whitworth and his team opted to lay off hundreds of hardworking employees, Frericks has a different idea. Rather than punishing the little guys, he pointed out that maybe, just maybe, it’s time for the CEO to step down. After all, as Frericks argues, the CEO is ultimately responsible for the company’s performance, and the last four months have been an absolute disaster.
“It’s easy for consumers to switch because everywhere you have a Bud Light you have Miller Lite, Coors Light, etc.” Anson Frericks why the bud light boycott has been success. | @SeanDuffyWI @dagenmcdowell pic.twitter.com/J5uVWttdpG
— The Bottom Line (@BottomLineFBN) July 27, 2023
One particular fiasco that comes to mind is the ill-advised partnership with transgender influencer Dylan Mulvaney. This decision resulted in a disastrous decline in Bud Light sales. And what was Whitworth’s response? Layoffs, of course! But he defended the decision, claiming it was all in the name of the company’s “future long-term success.” Well, excuse us if we’re a bit skeptical.
Back in March, Anheuser-Busch thought it would be a great idea to feature Mulvaney’s face on Bud Light packaging to celebrate her so-called “one-year of ‘girlhood’.” Unsurprisingly, this move sparked widespread controversy and backlash from distributors and customers alike. But did the CEO address the issue promptly? No, he waited until April to say anything, leaving everyone hanging. Talk about a lack of leadership.
Frericks also raised concerns about the company’s shift away from fiscal priorities and toward political ones. When he joined Anheuser-Busch in 2011, he expected to focus on running a successful business, not pushing activist or political agendas. And he’s absolutely right! CEOs have a fiduciary duty to their shareholders, not to some vocal minority who are more interested in promoting their own agendas than in the company’s success.
It’s clear that Anheuser-Busch has lost sight of its core values and is paying the price for it. Frericks warned of even more pain to come for the company, and it’s hard to argue with him. The slump in sales hasn’t been adequately addressed, and shareholders are getting ready to pounce with tough questions about the company’s plan to turn things around. It’s not looking good, folks.
Even consumers have noticed the company’s missteps. The Bud Light boycott has gained traction, and it’s no wonder. People are tired of a beer company getting involved in political situations instead of focusing on what it does best—selling beer. And guess what? Consumers have plenty of alternatives to choose from, so they’re switching it up.
At the end of the day, it’s clear that Anheuser-Busch needs a major shakeup. It’s time for Whitworth to step aside and make room for someone who can steer the company back to success. The company’s future, and the livelihoods of its employees, depend on it. Let’s hope Anheuser-Busch makes the right move before it’s too late.
