In presenting a higher earnings projection last week, Anheuser-Busch Chief Financial Officer Randy Baker emphasized how conservative the new number was.  ”While increasing market share continues to be our objective, our strategic plan does not rely on increased market share and assumes level market share throughout the plan,” he told analysts.

In a video made for distributors and employees, though, another A-B executive emphasizes that level isn’t good enough. According to a transcript filed with the SEC, David Peacock says:

We cannot accept flat market share. We have to grow our volume more rapidly than the industry and we must grow share. If we grow share, we will deliver a performance above the plan we just presented, a plan that has been widely accepted by Wall Street.

Peacock, who is vice president for marketing, also repeats A-B’s rejection of InBev’s unsolicited $65-a-share buyout offer. He ends by exhorting distributors to “come together and focus on competing in the marketplace every day as aggressively as possible to exceed the plan that we have laid out.”