[DM] World's biggest brewer reports 13.5% slump in revenue in the third quarterThe US chief marketing officer of Anheuser-Busch InBev is stepping down amid the company's continuing slump in sales, following Bud Light's disastrous collaboration with transgender influencer Dylan Mulvaney earlier in the year.
Benoit Garbe is set to leave his role at Bud Light's parent company at the end of the year, it was announced Wednesday, 'in order to embark on a new chapter in his career.'
Serving as the company's CMO for just over two years, his tenure was marred by an April marketing debacle where a Bud Light partnership with Mulvaney led to a boycott by the brand's customers and a significant loss in revenue.
In third quarter returns reported Tuesday, the summer slump continued as the company suffered a 13.5 percent drop in revenue per 100 liters, a key measure for beer sales.
Bud Light, a subsidiary of Anheuser Busch InBev, lost its 22-year long title as America's favorite beer earlier this year as it suffered a financially devastating summer
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