Michel Doukeris, CEO of Bud Light's parent company, Anheuser-Busch InBev, attempted to downplay the brand's association with transgender content creator Dylan Mulvaney.
In a call with investors, Doukeris said Thursday that false information is being spread on social media about Mulvaney's true role in promoting Bud Light.
"We need to clarify the facts that this was one can, one influencer, one post and not a campaign," said the CEO of Anheuser-Busch InBev, adding that big brands can become part of important debates.
Doukeris also tried to downplay the significance of the drop in Bud Light sales , saying that the decline in the first three weeks of April represented only 1% of overall volumes, although he explained that it is still too early to assess the impact.
“This was one can, one influencer, one post, and not a campaign.”
Anheuser-Busch CEO Michel Doukeris addressed the @BudLight controversy on an earnings call with investors, downplaying the brand’s partnership with transgender influencer #DylanMulvaney. https://t.co/xY7WuXL1vt
— The Epoch Times (@EpochTimes) May 4, 2023
Anheuser-Busch InBev's CEO acknowledged that they will have to work harder to improve the brand's image, so he announced that they made an adjustment in their marketing structure and tripled their media investment for the summer.
"I can tell you that we have the agility, resources and people to support the U.S. team and move forward. We will continue to learn, meet the moment in time, all be stronger and we work tirelessly to do what we do best: Bring people together over a beer and creating a future of more cheers," he said.
A significant drop
Doukeris's words not withstanding, the numbers show that the boycott against Bud Light affected the company. In a short time the company's value dropped by more than $6 billion and at least through the week of April 22 sales were down 21% year-over-year.
