BUD - AB InBev CEO laments Bud Light 'misinformation' in FT interview

2023-05-08 07:43:20 ET

Anheuser-Busch InBev ( BUD ) CEO Michel Doukeris said that misinformation played a part in sparking the social media backlash against the Bud Light brand.

He told The Financial Times on Monday that “misinformation and confusion” regarding the post from transgender influencer Dylan Mulvaney earlier in the spring. Echoing comments from the company’s Q1 earnings call, he emphasized that the can featuring the influencer was not made for production or sale to the general public, nor was it an official ad campaign.

“You have one fact and every person puts an opinion behind the fact. And then the opinions start to be replicated fast on each and every comment,” he told the FT . “By the time that 10 or 20 people put a comment out there, the reality is no longer what the fact is, but is more [about] what the comments were.”

Shares of Anheuser-Busch InBev ( BUD ) edged modestly lower on light volume in premarket action on Monday.

More on Anheuser Busch

AB InBev pricing actions aid earnings beat, reaffirmed full-year guidance

Anheuser-Busch InBev Earnings Call Transcript

AB InBev stock slide amid Bud Light backlash ‘overdone’ - Citi

Molson Coors to benefit from Bud Light controversy - Evercore

Anheuser-Busch CEO responds amid Bud Light ad controversy

Bud Light ad controversy could sting suppliers - Truist

Bud Light marketing executive takes leave of absence amid ad controversy

For further details see: