The top Anheuser-Busch marketing executive, Paul Chibe, is leaving the company after the collapse in Bud Light sales. Chibe had been the company’s chief marketing officer since 2013 and had led the development of its iconic products, such as the Budweiser line and Bud Light.
In recent years, Anheuser-Busch has seen a decline in sales for Bud Light in particular due to competition from craft beer and other alcoholic beverages. According to The Wall Street Journal, Anheuser-Busch has been losing share of the U.S. beer market for four straight years. This has led to the company’s overall sales decline and reduced earnings in 2019.
Anheuser-Busch announced Chibe’s departure, saying that he had “decided to retire” from the company. The company did not provide any further explanation. However, according to a source close to the matter, Chibe’s decision was due to his disagreement with Anheuser-Busch’s new strategy to shift away from Bud Light and focus on specialty brands.
The company has already announced a new strategy to turn around its beer business, which includes investing in premium brands such as Michelob Ultra and investing in a new product called Busch Light. It’s unclear who will replace Chibe as Anheuser-Busch’s CMO.