Investment firms like BlackRock and Vanguard are 'forcing' companies like Bud Light and Target into woke marketing campaigns, claims ex-Anheuser-Busch exec
Anson Frericks accused institutional investors of pushing ideology on firms
Pointed the finger at BlackRock, State Street and Vanguard
A former Anheuser-Busch executive has claimed that institutional investors are pushing left-wing ideology on the companies they invest in, spurring recent controversies like the ones that engulfed Bud Light and Target.
Anson Frericks, a co-founder of Strive Asset Management who previously spent a decade at Anheuser-Busch, made the claim in an interview on Tuesday on Fox News.
'You just have to follow the money. Take a look at BlackRock, State Street, Vanguard -- they manage $20 billion worth of capital,' he said.
Frericks said a lot of the money managed by institutional investors comes from big pension funds like those of the state of California, which put ideological pressure on the money managers.
According to Frericks' LinkedIn profile, he left Anheuser-Busch in April 2022.
Asked if he left the company because he witnessed pressure from institutional investors, Frericks demurred, saying: 'Not necessarily because of Anheuser-Busch, but a lot of other companies.'
In fact, institutional investors own only 5.29 percent of the outstanding shares of the brewer's Belgium-based parent company Anheuser-Busch InBev, according to NASDAQ data.
That may be, but Midnight's Edge has pointed out that woke banks also impose ESG requirements on corporations for the revolving lines of credit necessary to make payroll.
The Woke Cartel has destroyed Anheuser-Busch. A-B has lost twenty seven billion in shareholder value... so far.
Their Memorial Day sales were down... 60%. Salesmen are making little money as they just can't sell Tranheuser's product, and may start quitting the company en masse to work for someone who respects their customer base.
Bud Light boycott is costing sales staff up to $2,000-a-month as sales tanked as much as 60% over the Memorial Day weekend - amid fears 'good people are going to start leaving brand because they aren't making money'
Salespeople working for independent wholesalers that distribute Anheuser-Busch products are feeling the pain of the ongoing boycott in their wallets
Some say they have lost commission because of the drop in sales because of the boycott tied to the partnership with trans Dylan Mulvaney
Parent company Anheuser-Busch has lost $27billion in value since the boycott began
Salespeople working for independent wholesalers that sell Anheuser-Busch beverages are feeling the pain in their wallets of the ongoing boycott of Bud Light following its partnership with transgender influencer Dylan Mulvaney.
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Incomes have been slashed for the salespeople who work at the roughly 500 independent wholesalers that sell Anheuser-Busch products to restaurants, bars, and grocery stores.
Some reported losing $2,000 last month compared to the typical May because of the backlash.
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Compensation for salespeople varies across distributors and markets, but according to Frericks, a typical salesperson makes around $60,000 per year, including $20,000 in variable pay, which depends largely on commission.
'Good people are going to start leaving because they aren't making money,' he told ABC.
An anonymous supervisor from a Florida-based distributor told the outlet that the average salesperson made about $2,000 less in the month of May than they normally would have over based on figures from the last handful several years.
Numbers are suffering primarily due to a decline in Bud Light sales that reached as high as a 60 percent drop off over the week that ended on Memorial Day.
Bud Light is running out of time and could lose market share FOREVER: Brand will lose retail shelf space to Miller and Coors if they cannot reverse plunging sales, warns ex Anheuser-Bush exec
Anson Frericks says retailers will begin resetting shelf space in September
If Bud Light sales continue to lag, they could lose shelf space, he claimed
In the four weeks through May 20, Bud Light sales dropped 24.3% from last year
If Bud Light sales continue to lag, the brand risks losing shelf space at major retailers to competitors and 'locking in' lower market share, a former Anheuser-Busch executive has claimed.
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Anson Frericks, the former US president of sales and distribution for St. Louis-based Anheuser-Busch, said that retailers such as Walmart and Kroger typically 'reset' their shelf space allocations in the spring and fall, based on sales data.
For the fall reset in September, 'they generally take sales data from April, May, June, July, and then based off of that data in that time period, they will reallocate shelf space,' he told DailyMail.com in a phone interview on Saturday.
If Bud Light sales continue to slump, 'that shelf space will be allocated to Miller Lite, Coors Light, Yuengling, and some of the other brands that have that have taken share from them,' he said.
LOL.