Anheuser-Busch InBev NV Chief Executive Officer Michel Doukeris downplayed the negative impact from the backlash from US political conservatives over a decision to promote Bud Light with a transgender influencer.
(Bloomberg) — Anheuser-Busch InBev NV Chief Executive Officer Michel Doukeris downplayed the negative impact from the backlash from US political conservatives over a decision to promote Bud Light with a transgender influencer.
Doukeris said the brand’s drop in US sales in the first three weeks of April is about equivalent to 1% of the company’s global volumes, but that it’s too early to comment on the full impact. AB InBev is tripling its media spending on the brand this summer.
In his first public comments about the controversy, Doukeris said the company would provide direct financial support to its “front-line workers” affected. On a call with analysts, Doukeris didn’t express support for Dylan Mulvaney, the transgender influencer the company recruited to promote the brand, nor for the transgender community.
“This was the result of one can,” the CEO said of the promotion that saw the company send Mulvaney a beer can with her likeness on it. “This was not the result of a campaign.”
AB InBev reiterated its full-year guidance Thursday even as first-quarter earnings beat analysts’ estimates. Chief Financial Officer Fernando Tennenbaum said it’s too early to adjust the forecast.
Shares of the company traded 2.2% higher as of 4:01 p.m. in Brussels.
“While beer will always be at the table when important topics are debated, the beer itself should not be in focus,” Doukeris said.
The CEO also said the US beer industry remains “resilient.”
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