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Former Anheuser-Busch exec says layoffs should've included CEO: 'There's no future at this company'

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A former Anheuser-Busch executive and now-fierce critic argues the current CEO did not uphold his fiduciary obligations to shareholders — and will have to answer for it.

Strive Asset Management co-founder and president Anson Frericks discusses how Bud Light laid off 350 employees after the Dylan Mulvaney controversy on ‘The Bottom Line.’

"Every single CEO, they have a fiduciary obligation to their shareholders, not to these stakeholders in the organization that are pushing different agendas, activist agendas, political agendas," the former exec explained. "If you're the CEO of a company, you're the one who's accountable for the results at the end of the day."

When he settled into the company after joining in 2011, Frericks claimed he started seeing the shift away from fiscal priorities"By the time I left the organization, we started releasing two annual reports: one was for shareholders, which talked about what the company was doing, its financials; but there was a second, 105-page ESG report that the company was releasing that was talking about DEI, talking about ESG, talking to these progressive things that frankly did not deliver to the...

Frericks expressed he remains "shocked" that Anheuser-Busch hasn’t properly addressed or fixed the slump in sales, and warned of "more pain" to come.

 

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Bud Light maker Anheuser-Busch to lay off hundreds of employees, company saysAnheuser-Busch, the parent company of Bud Light, will be laying off about 350 employees after losing its title as the top-selling beer in America.
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