Once again I will say it. The only winner here is Dylan Mulvaney who is laughing all the way to the bank while Americans boycott Budweiser products. Now the CEO named Michel Doukeris is coming out and backing away from Mulvaney after the company decided to go woke. But the damage is done and Budweiser sales may never recover.. Because Anheuser-Busch has so many different product that haven’t been harmed by the boycott, the stock price has actually recovered some.
In fact, with Doukeris backing away from Mulvaney, calling him just “one influencer”, the stock price today is up 3% in an otherwise down market.
Anheuser-Busch CEO Michel Doukeris addressed the Bud Light controversy on an earnings call with investors Thursday, downplaying the brand’s partnership with transgender influencer Dylan Mulvaney that prompted a boycott from conservatives.
Doukeris told investors there is “misinformation” spreading on social media about the company’s team-up with Mulvaney.
“We need to clarify the facts that this was one can, one influencer, one post and not a campaign,” Doukeris said.
The CEO said Anheuser-Busch is “providing direct financial support” to the frontline workers impacted by the boycott, naming delivery drivers, sales representatives, wholesalers, bar owners and servers. Doukeris said the brewing giant will triple media spending on advertising for Bud Light over the summer, confirming reports that the company is planning a major marketing push to recover its brand.