Woke corporate governance often stems from involved investment firms: Former Anheuser-Busch exec

 

June 3, 2023

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Blackrock and Vanguard are forcing ESG and DEI initiatives on corporate America: Anson Frericks

Woke corporate governance, which recently led to the fiscal hemorrhaging of Anheuser-Busch and Target, often begins with investment firms pressuring them to behave in certain ways, a former executive at the beer conglomerate said.

Anson Frericks told "Jesse Watters Primetime" a lot of the lead-up to decisions — such as the one at his former firm involving transgender activist Dylan Mulvaney that led to a nationwide boycott of Bud Light — stem from the politicking of firms like New York-based BlackRock and Pennsylvania-based Vanguard.

Altogether, BlackRock, Vanguard and another firm, State Street, manage about $20 trillion in capital, Frericks said, noting it is not truly "their" money but that of the investments of Americans' mutual funds and state pension funds.

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