
Why Skills-First Leadership Is Replacing the Ivy League Playbook in the C-Suite
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
August 4, 2023: On Thursday, Anheuser-Busch InBev, the world’s largest brewer, smashed earnings anticipations during a quarter that saw a social media-driven boycott of its bestselling Bud Light beer in the U.S.
The Belgium-based Budweiser owner stated that its second-quarter revenue rose 7.2% globally, as price hikes offset a 1.4% volume fall. The company said organic growth in earnings before interest, taxes, depreciation, and amortization (EBITDA) was 5%, above a consensus forecast of 0.4%.
The Bud Light boycott was a comeback led by high-profile online personalities to the brand’s brief product placement with transgender influencer Dylan Mulvaney, who was sent a bottle of the beer to promote in a video at the start of April.
The partnership sparked one of the most talked-about marketing furors in recent years, with Bud Light in May losing its spot as the top-selling beer in the United States to Constellation Brands’ Modelo, as sales fell 25%. According to its results, A.B. InBev’s U.S. revenues were down 10.5% in the second quarter, as core profit fell 28.2%.
The company then faced criticism for failing to support Mulvaney after the controversy, which attracted political attention and led to the reported leave of absence of the marketing executive who oversaw the partnership.
Zak Stambor, the senior analyst at Insider Intelligence, said A.B. InBev “managed to alienate both conservatives and progressives in one fell swoop” and noted the importance of marketing to a brand that is “not a markedly different product from other microbrewed light lagers.”
A.B. InBev CEO Michel Doukeris, on the company’s quarterly earnings call, told analysts the decline in sales has reached “stabilization with signals of improvement.”
He addressed the company’s response to the backlash, although he never explicitly called it a “boycott,” referring instead to the “Bud Light situation.”
“In the U.S., we are listening and actively engaging with our consumers,” said Doukeris. “They want to enjoy their beer without a debate; they want us to focus and concentrate on platforms that all consumers love.”
The company plans to take “different responses in different regions” but remains confident in Bud Light’s brand recovery.
In its earnings statement, A.B. InBev said research conducted through a third-party firm on its behalf showed that 80% of 170,000 consumers surveyed were “favorable or neutral” toward the Bud Light brand.
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
Loud leaders once ruled the boardroom. Charisma was currency. Big talk drove big valuations.
But the CEOs who make history in downturns aren’t the ones with the deepest cuts
Companies invest millions in leadership development, yet many of their best executives leave within a few years. Why?
The most successful business leaders don’t just identify gaps in the market; they anticipate future needs before anyone else.
With technological advancements, shifting consumer expectations, and global interconnectedness, the role of business leaders
May 28, 2025: SpaceX’s latest Starship test flight, conducted on May 27, 2025, ended in failure when the spacecraft’s upper stage broke apart during its descent over the Indian Ocean.
May 27, 2025: Greek Coastguards Charged Over 2023 Pylos Migrant Shipwreck That Killed Hundreds
May 27, 2025: Volvo to Cut 3,000 Jobs in Europe as Part of $1.9B Restructuring Amid EV Slowdown and Tariff Pressures.
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
Leave us a message
Subscribe
Fill the form our team will contact you
Advertise with us
Fill the form our team will contact you