Anheuser-Busch US Marketing Chief Resigns Following Disastrous Dylan Mulvaney-Bud Light Campaign
A Top Marketing Executive Leaves Anheuser-Busch Amidst Fallout from Bud Light’s Controversial Partnership
A high-ranking marketing executive is departing Anheuser-Busch as the brewing company grapples with the consequences of its collaboration with transgender social media influencer Dylan Mulvaney, which caused significant backlash.
AB InBev, the parent company of Bud Light, has experienced two consecutive quarters of declining revenue since Mulvaney’s association with the brand was announced, leading to a boycott.
In the third quarter, the company’s revenue in the United States dropped by 13.5 percent, surpassing the 10.5 percent decline it faced in the previous quarter.
The decline in revenue has been attributed to a decrease in Bud Light’s sales volume, resulting in the brand losing its position as the top-selling beer in America.
AB InBev’s market capitalization was $132 billion on March 31, the day before Mulvaney revealed that Bud Light had featured his face on a beer can to commemorate a year of “girlhood.” By June, the market cap had fallen to around $107 billion, but it has since recovered to $121.5 billion.
On Thursday, AB InBev announced the departure of its U.S. chief marketing officer, Benoit Garbe, who will resign at the end of the year to pursue new opportunities in his career.
CEO Brendan Whitworth expressed that this shakeup will expedite the company’s return to growth and its commitment to brewing exceptional beer for everyone.
Garbe is not the only executive to leave AB InBev in the aftermath of the Mulvaney controversy. Lauren Denowitz, the former global entertainment head, announced last month that she is no longer with the company due to the unprecedented “brand crisis” triggered by the ill-advised partnership. Additionally, Daniel Blake, the group vice president for marketing, and Alissa Heinerscheid, the vice president of Bud Light marketing, have also departed after initially being placed on leave as the backlash against the company intensified.
Garbe’s departure coincided with podcaster Steven Crowder revealing a financial disclosure indicating that Mulvaney received $185,000 for promoting Bud Light.
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What is the extent of the decline in Bud Light’s sales volume and its impact on the brand’s position in the market?
S a result of the controversy.
The partnership between Bud Light and transgender social media influencer Dylan Mulvaney was met with significant backlash from consumers and the public. Many people expressed their disapproval of the collaboration, leading to a boycott of Bud Light products. This negative sentiment towards the brand has had a direct impact on AB InBev’s revenue, with two consecutive quarters of declining sales.
In the third quarter, the company’s revenue in the United States dropped by 13.5 percent, surpassing the 10.5 percent decline in the previous quarter. This decline has been attributed to a decrease in Bud Light’s sales volume, causing the brand to lose its position as the top-selling beer in America.
The financial implications of this controversy are significant. AB InBev’s market capitalization was $132 billion on March 31, the day before Mulvaney’s involvement was announced. However, by June, the market cap had fallen to around $107 billion. Despite some recovery, it currently stands at $121.5 billion. These numbers illustrate the monetary impact of the fallout from the controversial partnership.
To address the crisis and regain public trust, AB InBev has announced the departure of its U.S. chief marketing officer, Benoit Garbe. Garbe’s resignation will take effect at the end of the year, as he seeks new opportunities in his career. CEO Brendan Whitworth has expressed that this shakeup within the company’s leadership will expedite their return to growth and reaffirm their commitment to brewing exceptional beer for everyone.
Garbe is not the only executive to leave AB InBev in the aftermath of the Mulvaney controversy. Last month, Lauren Denowitz, the former global entertainment head, also announced her departure due to what she described as an unprecedented “brand crisis” triggered by the ill-advised partnership. Furthermore, Daniel Blake, the group vice president for marketing, and Alissa Heinerscheid, the vice president of Bud Light marketing, have also left the company.
As AB InBev navigates this challenging period, it remains to be seen how they will recover from the fallout of the controversial partnership. The departure of top executives indicates a determination to address the issues raised and regain trust from consumers. It is crucial for the company to take significant steps towards rebuilding their brand and repositioning themselves in the market. Only time will tell if they can successfully navigate this crisis and restore Bud Light’s reputation as a leading beer brand.
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