• bitcoinBitcoin(BTC)$81,276.005.47%
  • ethereumEthereum(ETH)$2,508.505.19%
  • tetherTether(USDT)$1.000.03%
  • binancecoinBNB(BNB)$725.645.58%
  • rippleXRP(XRP)$1.457.63%
  • usd-coinUSDC(USDC)$1.000.01%
  • solanaSolana(SOL)$103.823.85%
  • tronTRON(TRX)$0.3305731.81%
  • Figure HelocFigure Heloc(FIGR_HELOC)$1.031.79%
  • HyperliquidHyperliquid(HYPE)$87.546.94%
  • zcashZcash(ZEC)$946.6716.55%
  • dogecoinDogecoin(DOGE)$0.0878007.69%
  • RainRain(RAIN)$0.0171472.56%
  • USDSUSDS(USDS)$1.000.00%
  • moneroMonero(XMR)$518.826.51%
  • chainlinkChainlink(LINK)$11.846.98%
  • whitebitWhiteBIT Coin(WBT)$74.094.88%
  • leo-tokenLEO Token(LEO)$9.351.19%
  • cardanoCardano(ADA)$0.2209159.40%
  • stellarStellar(XLM)$0.1845035.18%
  • bitcoin-cashBitcoin Cash(BCH)$257.085.67%
  • daiDai(DAI)$1.000.00%
  • CantonCanton(CC)$0.1135724.03%
  • Ethena USDeEthena USDe(USDE)$1.000.03%
  • USD1USD1(USD1)$1.000.03%
  • uniswapUniswap(UNI)$6.4110.07%
  • litecoinLitecoin(LTC)$51.463.45%
  • the-open-networkGram (prev. Toncoin)(GRAM)$1.373.23%
  • hedera-hashgraphHedera(HBAR)$0.0792106.15%
  • Global DollarGlobal Dollar(USDG)$1.000.00%
  • avalanche-2Avalanche(AVAX)$7.504.69%
  • suiSui(SUI)$0.785.05%
  • shiba-inuShiba Inu(SHIB)$0.0000054.08%
  • paypal-usdPayPal USD(PYUSD)$1.000.02%
  • BlackRock USD Institutional Digital Liquidity FundBlackRock USD Institutional Digital Liquidity Fund(BUIDL)$1.000.00%
  • crypto-com-chainCronos(CRO)$0.0575796.10%
  • tether-goldTether Gold(XAUT)$4,470.561.93%
  • Circle USYCCircle USYC(USYC)$1.140.01%
  • nearNEAR Protocol(NEAR)$1.954.36%
  • Ripple USDRipple USD(RLUSD)$1.000.01%
  • MemeCoreMemeCore(M)$1.04-2.84%
  • okbOKB(OKB)$109.645.03%
  • Ondo US Dollar YieldOndo US Dollar Yield(USDY)$1.14-0.14%
  • BittensorBittensor(TAO)$225.944.51%
  • aaveAave(AAVE)$132.794.68%
  • AsterAster(ASTER)$0.72-0.88%
  • pax-goldPAX Gold(PAXG)$4,480.311.95%
  • mantleMantle(MNT)$0.571.27%
  • World Liberty FinancialWorld Liberty Financial(WLFI)$0.0572913.03%
  • OndoOndo(ONDO)$0.3632154.63%
TradePoint.io
  • Main
  • AI & Technology
  • Stock Charts
  • Market & News
  • Business
  • Finance Tips
  • Trade Tube
  • Blog
  • Shop
No Result
View All Result
TradePoint.io
No Result
View All Result

Former Anheuser-Busch exec urges current CEO to step down

July 1, 2023
in Business
Reading Time: 7 mins read
A A
Former Anheuser-Busch exec urges current CEO to step down
ShareShareShareShareShare

Former president of Anheuser-Busch Sales and Distribution Company Anson Frericks urged the current CEO of the beer company, Brendan Whitworth to step down from his position for how he has botched and continues to botch the Bud Light situation involving trans woman Dylan Mulvaney.

In a column for The Daily Mail, Frericks claimed that Whitworth needs to leave before doing more damage to the brand that has already lost billions of dollars in market value.

YOU MAY ALSO LIKE

Elon Musk launches steering-wheel-free Tesla Cybercabs

Popular San Diego County brewing company closing after 15 years

All of this happened in the wake of Anheuser-Busch brand Bud Light making the trans influencer one of its spokespersons in April.

Frericks accused Whitworth of botching multiple opportunities to right his company’s ship in the wake of the boycott and claimed it would be better for the company’s shareholders to compel him to leave rather than he stays and offer more “bland” responses to Anheuser-Busch’s current PR crisis.

Frericks declared, “Whitworth has clearly shown himself to be incapable of solving the Mulvaney crisis. He’s had multiple chances and he’s failed.”

The piece began with Frericks noting the monetary loss suffered by his former company in the wake of the Mulvaney partnership. “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,” he wrote.

He mentioned how Mulvaney blasted the beer brand earlier this week in an Instagram post. In that clip, the trans influencer ripped Bud Light for not showing enough support for Mulvaney amidst the backlash. Frericks claimed, “Mulvaney did something Whitworth should have had the wisdom to do weeks ago – cut ties.”


Anson Frericks urged the current CEO, Brendan Whitworth to step down from his position.
Christopher Sadowski

The former executive mentioned that Whitworth’s response to Mulvaney, “was predictably weak and indecisive,” and claimed his 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,” meant “absolutely nothing.”

Frericks added, “And it will only deepen the chasm between the brand and its customers.”

The former Anheuser-Busch executive then declared, “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 claimed it was necessary to hold the CEO accountable because his business decisions are now impacting other people whose livelihoods depend on the success of the brand.


Mulvaney blasted the beer brand in an Instagram post earlier this week.
Mulvaney blasted the beer brand in an Instagram post earlier this week.

“So I write this with a heavy heart, not out of spite but because it’s important for Americans to understand how and why corporate leaders can bungle the management of once-iconic American brands so badly, sacrificing countless jobs and invested assets in the process.”

Frericks then went through the timeline of the ongoing Mulvaney, Bud Light controversy, criticizing Whitworth’s attempts to solve the issue throughout.

For example, he stated, “On April 14th, Whitworth made his first attempt at addressing plunging sales with a flat corporate response that neither mentioned the specific controversy, nor apologized for it. Instead of helping, it made things even worse: inflaming both the customers who wanted an apology for the campaign – and those who were sympathetic to Mulvaney and wanted to see the company defend the influencer.”

The former Anheuser-Busch leader also trashed both of responses Whitworth made in June. Of the one Whitworth made on June 16, he wrote, “But this statement, as bland as the first, only announced additional investments in Bud Light’s summer marketing campaign, support for front line employees and a few weak platitudes telling consumers ‘we hear you’ and ‘here’s to a future with more cheers.’”

Frericks noted that after that statement, “Bud Light subsequently experienced its worst weekly sales numbers since the Mulvaney partnership.”

He then detailed the remarks the CEO gave in a June 28 interview on CBS Mornings, saying, “He made his first public appearance since the debacle on CBS Morning News where he was twice asked by hosts if he would send the can to Mulvaney again or if it had been a ‘mistake’. It was a softball question. He should have belted it out of the park.”

Frericks added, “Yet both times he deflected, with a clearly rehearsed and evasive answer. He should have said: ‘Of course, it was a mistake. No, we wouldn’t send the can again!’”

He surmised that Whitworth gave such answers because “he’s been paralyzed by corporate America’s forced adoption of ‘stakeholder’ capitalism, which preaches to companies about why they must serve activists, politicians, non-governmental organizations and all manner of interests – anyone really apart from their shareholders and customers!”

He then concluded, “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.”

Fox News Digital reached out to Bud Light for response to Frericks’ criticism and is waiting for a response.

Credit: Source link

ShareTweetSendSharePin

Related Posts

Elon Musk launches steering-wheel-free Tesla Cybercabs
Business

Elon Musk launches steering-wheel-free Tesla Cybercabs

September 3, 2026
Popular San Diego County brewing company closing after 15 years
Business

Popular San Diego County brewing company closing after 15 years

September 3, 2026
Nike closes 11 stores across the US — including one in California
Business

Nike closes 11 stores across the US — including one in California

September 3, 2026
Nvidia buying AI startup Hugging Face for whopping B
Business

Nvidia buying AI startup Hugging Face for whopping $13B

September 3, 2026
Next Post
Apple Unveils the  HomePod Mini Speaker

Apple Unveils the $99 HomePod Mini Speaker

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
Breaking down the Michigan Senate primary

Breaking down the Michigan Senate primary

August 29, 2026
Kalshi slaps scandal-ridden George Santos with first-ever lifetime ban over shady bet

Kalshi slaps scandal-ridden George Santos with first-ever lifetime ban over shady bet

August 31, 2026
Kalshi permanently bans former GOP Rep. George Santos over illegal trading – CNBC

Kalshi permanently bans former GOP Rep. George Santos over illegal trading – CNBC

August 31, 2026

About

Learn more

Our Services

Legal

Privacy Policy

Terms of Use

Bloggers

Learn more

Article Links

Contact

Advertise

Ask us anything

©2020- TradePoint.io - All rights reserved!

Tradepoint.io, being just a publishing and technology platform, is not a registered broker-dealer or investment adviser. So we do not provide investment advice. Rather, brokerage services are provided to clients of Tradepoint.io by independent SEC-registered broker-dealers and members of FINRA/SIPC. Every form of investing carries some risk and past performance is not a guarantee of future results. “Tradepoint.io“, “Instant Investing” and “My Trading Tools” are registered trademarks of Apperbuild, LLC.

This website is operated by Apperbuild, LLC. We have no link to any brokerage firm and we do not provide investment advice. Every information and resource we provide is solely for the education of our readers. © 2020 Apperbuild, LLC. All rights reserved.

No Result
View All Result
  • Main
  • AI & Technology
  • Stock Charts
  • Market & News
  • Business
  • Finance Tips
  • Trade Tube
  • Blog
  • Shop

© 2023 - TradePoint.io - All Rights Reserved!