Anheuser-Busch, one of the world’s largest beer companies, is undergoing some restructuring after a disappointing sales drop in their flagship brand Bud Light. This restructuring is now leading to the departure of their top marketing executive.
Tony Milikin, the Chief Customer Officer of Anheuser-Busch, is leaving the company after 16 years of service. Milikin headed the company’s marketing team, responsible for the Bud Light campaigns and advertisements for the past few years.
The company has been struggling to make Bud Light a hit amongst the beer-drinking audience, as its sales have dropped in the past year. Anheuser-Busch made a major effort to make the brand more attractive to “millennial” and “generation Z” consumers, spending up to $400 million in advertising and promotions last year, however, sales have yet to be impacted.
The company will now need to fill the role that Milikin held, however, it appears it may be in no rush to do so. While the company has planned for a gradual transition of his responsibilities to current team members, they have not yet announced someone to take the former executive’s place.
Anheuser-Busch President and CEO, Michel Doukeris, thanked Milikin for his efforts in a statement and expressed hopes of finding a “new disruptive idea” to help make Bud Light a hit among consumers.
The company will need to find a new strategy for their flagship brand soon, as failing to do so could spell trouble. Bud Light accounts for a large portion of Anheuser-Busch’s sales, and without it, the company will have difficulty competing in the increasingly competitive beer market.
The departure of Milikin is a sign that Anheuser-Busch is revisiting its approach to Bud Light, and it is essential that they soon find a new strategy to help turn the brand’s numbers around.