une 3, 2023 7:00am EDT
Woke corporate governance often stems from involved investment firms: Former Anheuser-Busch exec
Engaging in woke politics has led to an endangerment of some firms' fiduciary responsibilities
By Charles Creitz | Fox News
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.
Frericks said in the case of one of the firms, it manages California's pension fund — the largest in the country — and that therefore California politicians can also have a say in the corporate governance and politicking of the firms they invest so heavily in.
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https://www.foxnews.com/media/woke-corporate-governance-often-stems-involved-investment-firms-former-anheuser-busch-exec
