Maggie Timoney, Heineken U.S. CEO, joins 'Power Lunch' to discuss the company's non-alcoholic drinks, how to build the consumer base and how the brand is navigating tariffs.

Heineken U.S. CEO Maggie Thyme discussed the growing popularity of non-alcoholic beer, particularly Heineken Zero Zero, which has experienced double-digit growth for several years. The company has invested heavily in marketing and partnerships, including with major sporting events and entertainment brands, to support this product line. Thyme noted that while overall beer volumes have declined, non-alcoholic options are expanding, and there is limited cannibalization of core Heineken products.

Thyme also addressed the company's approach to market challenges such as tariffs, emphasizing a focus on core brands and innovation. She revealed that Heineken is testing a new product, Heineken Zero Zero Ultimate (Triple Zero), which contains zero alcohol, zero calories, and zero sugar, with plans to expand testing in the future.

Heineken U.S. CEO: Non-alcoholic beer is part of the future

Hey, Leslie. Yep. Thanks. I am joined by the Heineken U.S. CEO, Maggie Thyme. Maggie, thank you for taking the time. Thank you, Brandon. Thanks for having me. Let's start there with the rise in popularity of these non-alcoholic offerings, right? It's what you're bringing here to the U.S. Open. Yes. Heineken, love, love. We've seen the longstanding history of partnerships between alcohol brands and these big sports brands as well. Is non-alcoholic the future in terms of those types of partnerships? I think it's part of the future, but it's not all the answer. Heineken Zero Zero has been growing double digits for multiple years. We are a 30-year-plus partner with the U.S. Open, pairing an iconic global brand with iconic global partnership, and we're very proud of that fact. And last year, we debuted our Heineken Love Love Can, which is a bit of a nod to the Zero Zero Start in tennis, as we were talking earlier, and we ran out in the first week. So this year, we will not run out, Brandon. We are here at the U.S. Open for two weeks with our Heineken Love Love Can, and we are nationwide at key retailers at Walmart, Kroger, 7-Eleven, Circle K, to name a few. Yeah, I think about that, because I think about how there is this rise in popularity of these non-alcoholic beverage options. I mean, but you look at the scanner data for the U.S., and you see that, you know, Heineken has seen a pullback. Volumes are down 10%, but those non-alcoholic options are up. So how are you building a strategy where you can build a consumer base around these non-alcoholic products, but still not eat into that core? Yeah, we know that there's limited cannibalization on core Heineken. When we launched Heineken Zero Zero in January of 2019, we didn't just launch it and hope that it would be a success. We reignited a nascent category by investing tens of millions of dollars behind the brand, also partnering with F1, F1 Movie, Coachella, Marvel Partnerships, to name a few. So even a Super Bowl ad, which was the very first for a non-alcoholic beer. So we do see double-digit growth. You know, non-alcoholic beer is still only just over 1% of the category, but we're very proud that we took a leadership position, and we are the number one brand in the category. Well, and I think about Heineken, too, and I think, you know, part of the strength of Heineken's brand is that it is a premium import brand, right? When we talk imports, we're also talking about tariffs, though, in that phase. So how have you been navigating and following sort of the day-to-day fluctuation of the talk that we're having? Sure. Of course, tariffs, it's the topic of the last months. We continue, as always, to assess and look at the risk across our operations and supply chain. We focus on what we can control and on our strategy, which is fueling our investment behind our core brands, Heineken and Dos Equis, in key priority markets, and also fueling that investment behind those brands and markets, and innovating in order to be there when our consumers want us to be there, and also for our future consumers. And to that point, actually, Brandon, you might be interested, that we tested this year Heineken Zero Zero Ultimate, or as we affectionately know it, Triple Zero. Zero alcohol, zero cals, zero sugar. So we are expanding that test next year.

Israel's military has called up tens of thousands of reservists in preparation for an expected assault on Gaza City, as the Israeli government considered a new proposal for a ceasefire after nearly two years of war.

Jerusalem

Middle East Conflict

Israel calls up 60,000 reservists ahead of Gaza City operation

The Trump administration says it is adding 407 items to the list of "derivative" steel and aluminum products subject to higher tariffs. The list includes products like car parts, household appliances, baby strollers, fire extinguishers and spray deodorants.

Washington

Global Tariffs

Trump expanding steel and aluminum tariffs

NATO military chiefs met virtually Wednesday for what was described as a candid discussion about security guarantees the alliance would be willing to provide to Ukraine in an effort to end Russia's war in the region.

Brussels

Ukraine Invasion

NATO chiefs meet virtually about potential Ukraine security guarantees

Israel's military leaders approved the next phase of their ongoing offensive in the territory. The operation will shift focus to Gaza City, targeting areas where Hamas is believed to still be active and where Israeli forces have not yet operated.

Israel approves next phase of Gaza offensive, focus on Gaza City

Despite not making landfall, Hurricane Erin is forcing mandatory evacuation orders in parts of North Carolina and is expected to cause rip currents for days along the U.S. East Coast.

North Carolina

Hurricane Erin forces evacuations on U.S. East Coast

The White House says it is working to secure a meeting between the presidents of Russia and Ukraine, which both have agreed to, while plans continue to create security guarantees for Ukraine.

Trump says no U.S. ground troops will be sent to Ukraine

Hamas has agreed to a ceasefire proposal for Gaza, but mediators are still waiting for an official response from Israel. CBS News contributor Robert Berger has the latest from Jerusalem.

Mediators await Israeli response to Gaza ceasefire proposal

Indian Prime Minister Narendra Modi met China’s top diplomat on Tuesday and hailed the “steady progress” made in improving the bilateral relationship after a yearslong standoff between the nuclear-armed Asian powers.

New Delhi

India's Modi meets China's foreign minister to rebuild ties

Texas Democrats who ended a walkout found themselves shadowed by law enforcement officers to keep them from repeating the protest that stalled Republican efforts to redraw congressional districts and fulfill President Donald Trump's desire to reshape U.S. House maps.

Austin

Police escort Texas Democrats to prevent new redistricting walkout

Air Canada has reached a tentative agreement with the Canada Industrial Relations Board (CIRB), ending the strike that began over the weekend involving 10,000 members and disrupted travel for more than 100,000 travelers per day.

Toronto

Air Canada reaches tentative agreement with flight attendant union

Exiled former Hong Kong lawmaker Ted Hui hailed Australia's grant of asylum status as a key acknowledgement of the territory's human rights infringements since its authorities quelled massive pro-democracy protests in 2019.

Hong Kong Island

Ex-Hong Kong lawmaker granted asylum by Australia

Forecasters are giving urgent warnings to millions of people who live along the East Coast as Hurricane Erin churns in the Atlantic. The storm will not make direct landfall but is expected to bring dangerous rip currents.

East Coast of the United States

Hurricane Erin to bring dangerous rip currents to U.S. East Coast

Jasveen Sangha, a Los Angeles woman known as the "Ketamine Queen," has agreed to plead guilty to federal charges in connection with the death of actor Matthew Perry. Sangha could face up to 45 years in prison.

Los Angeles

"Ketamine Queen" to plead guilty in Matthew Perry's death

European leaders who converged on the White House for talks on the Russia-Ukraine war demonstrated a united front regarding Ukraine's security on Monday, underscoring the issue as pivotal for the entire continent, not just Ukraine.

EU leaders show cautious optimism following Zelenskyy, Trump talks

As Hamas reportedly agreed to some ceasefire terms that would include the return of more hostages, Israeli Prime Minister Benjamin Netanyahu ordered troops to take more of Gaza.

Israel digs in on Gaza takeover as Hamas softens on ceasefire

President Donald Trump said that the United States would help Europe in providing security for Ukraine as part of any deal to end Russia's war in Ukraine.

Trump tells Zelenskyy U.S. would help with security in a peace deal

Bolivia's presidential vote headed to an unprecedented runoff after elections Sunday that ended more than two decades of left-wing dominance in the Andean nation but signaled voters' trepidation about a major lurch to the right.

La Paz

Bolivia heads to runoff after historic defeat for the left

All Air Canada planes were grounded on Monday (August 18) after its 10,000 flight attendants refused a return-to-work mandate from the Canadian government.

Air Canada delays plans to resume operations

Ukrainian President Volodymyr Zelenskyy arrived at the White House Monday (August 18) for his meeting with President Donald Trump and other European leaders about Russia's war in Ukraine. CBS News White House reporter Taurean Small has more.

Trump meeting with Zelenskiy, European leaders at White House

Hamas on Monday informed mediators that it had accepted a ceasefire deal proposal submitted to it the day before, according to international and Israeli outlets.

Reports: Hamas accepts latest Gaza ceasefire proposal

Hurricane Erin will bring dangerously rough surf to parts of the U.S. East Coast. Over the weekend, Erin's outer bands lashed Puerto Rico with up to 7 inches of rain and flooding parts of the island.

Erin expected to bring dangerous conditions to U.S. East Coast

Ahead of his Monday meeting with President Trump, Ukrainian President Volodymry Zelenksyy says his country will not give up any territory to Russia, even as the White House insists potential land swaps will be necessary. Willie James Inman reports.

Kyiv

Ahead of Trump meeting, Zelenskyy says won't give territory to Russia

Thousands of Israeli protesters demanded a deal to secure the release of hostages still held by Hamas in one of the biggest demonstrations since the war in Gaza began. Debora Patta reports.

Thousands of Israelis protest in Gaza, call for end to fighting

Ukrainian President Volodymyr Zelenskyy flies to Washington on Monday under heavy U.S. pressure to agree to a swift end to Russia's war in his country, but determined to defend Kyiv's interests — without sparking a second Oval Office dust-up with Donald Trump.

Zelenskyy, European allies to meet with Trump to discuss peace

European leaders voiced strong support for Ukraine ahead of a Washington summit with U.S President Donald Trump. They emphasized unity, territorial integrity and security guarantees as essential to any peace deal.

Paris

European leaders stress unity with Ukraine ahead of peace talks

International condemnation and pressure from allies have done nothing to stop Israel's plan to displace the people of northern Gaza. Israel on Saturday (August 16) said it is preparing to move Palestinians from combat zones to southern Gaza.

Israeli military prepares to move Palestinians to southern Gaza

Thousands of people took to the streets on Sunday in a nationwide strike amid fears further fighting could endanger the 50 hostages believed to still be in Gaza.

Tel Aviv-Yafo

Dozens of Israelis arrested in protest to demand end to Gaza war

Russia continues to target Ukrainian cities firing hundreds of missiles and projectiles daily despite ongoing peace efforts, led by the United States. Ukrainian officials say their unwillingness to dial back their offensive reflects their lack of sincere interest in peace.

Breakdown