Florida Governor Ron DeSantis (R) has ordered Lamar Taylor, the interim executive director State Board of Administration, to look at all options to consider what to do with the state global equity assets with Anheuser-Busch InBev (AB InBev) in the continuing aftermath of Bud Light's disastrous decision to send a personalized can to trans influencer Dylan Mulvaney.
As the result of an effective boycott, Bud Light sales have dropped significantly to the point where it is no longer the top-selling beer in the nation and AB InBev's stock has taken a hit.
"As you well know, AB InBev's performance has plummeted since its decision to associate its Bud Light brand with radical social ideologies. That fateful decision has transformed America's formerly best-selling beer- and one of InBev's best-performing assets-into a commercial pariah. InBev's losses have been staggering," DeSantis wrote to Taylor. "Our legal commitments and obligations, however, remain perfectly clear: we must prudently manage the funds of Florida's hardworking law enforcement officers, teachers, firefighters, and first responders in a manner that focuses on growing returns, not subsidizing an ideological agenda through woke virtue signaling."
"It appears to me that AB InBev may have breached legal duties owed to its shareholders, and that a shareholder action may be both appropriate and necessary. To protect SBA and the retirees of Florida from losses attributable to AB InBev's disregard of those duties, all options are on the table," he added.
Bud Light has tried to desperately get their customers back through a new summer ad campaign but the social media postings have consistently been met with overwhelming negative reactions.
Nope 👎 pic.twitter.com/gkpf8uhJih
— NautPoso 🇮🇪☘️ (@NautPoso) July 19, 2023