AB InBev overhauls marketing division, brings in new CMO
Anheuser-Busch InBev has a new marketing chief in Pedro Earp, supplanting incumbent Miguel Patricio, as part of an overhaul of its marketing division.
AB InBev ferments change with marketing reshuffle
Earp was head of the brewer’s global innovation unit, ZX Ventures, and will retain those responsibilities as well as that come with the chief marketing officer role.
Patricio has been moved to a newly created role involving oversight of global marketing projects.
This will guarantee continuity at the top of ZX Ventures, which Earp has led since its formation in 2015 in order to assist the brewer in broadening its product range and tailoring its e-commerce and retail activation work.
These changes at the top have been driven by a wider global marketing restructure designed to bring in cost savings after heavy World Cup marketing spend dented second quarter profit growth.
Earnings rose 7% to $5.57bn, but fell short of expectations of at least 8% growth.
However, AB InBev said this was as a reuslt of the increased marketing spend in the first half.
The brewer also said it will reduce the number of global zones it operates within from nine to six as it seeks to become a more agile operation.
With two-decades worth of experience at the brewer Patricio has racked up six years’ experience in the role of CMO. He said: “We are recognized as being a very, very efficient company. But also we can add to that strength a very strong marketing capability. We are on the way.”
By embracing programmatic spend AB InBev believes it can trim as much as 30% from its media spend.
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