TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Anheuser-Busch InBev US lost its chief marketing officer after he decided to step down from his post. Benoit Garbe is leaving the company as the sales of the firm’s Bud Light drinks continue to drop despite efforts to revive it.
In any case, the reports of Anheuser-Busch InBev’s CMO’s departure come not long after the beer producer reported a decline in Bud Light sales. The main reason for the continued drop is said to be the backlash it received over various controversies that started with the Dylan Mulvaney incident.
Anheuser-Busch Confirms Marketing Chief’s Exit
As per CNN Business, Anheuser-Busch released a statement on Wednesday, Nov. 15, announcing the upcoming resignation of Garbe. As he vacated his seat, the company said that Kyle Norrington, the current US chief commercial officer, will temporarily take over.
There could have been a lot of pressure for Garbe as Anheuser-Busch posted a 13.5% decrease in the third quarter in its revenue in the United States per 100 liters which is a key measure of beer sales. This result possibly played a big part in his decision to step down.
At any rate, the numbers started to plummet after Bud Light teamed up with transgender influencer Dylan Mulvaney and the response from the public was so negative at that time. It ultimately created various controversies and sales have been dull since then.
Reason for Departure
It was said that Garbe is set to resign from his CMO role at Anheuser-Busch InBev US at the end of this year. The brewing company reportedly announced his resignation this week.
As for the reason for his decision to step down, BrewBound reported that the company’s spokesperson said that Garbe is giving up his role to “embark on a new chapter in his career.” he has been the firm’s CMO since the last part of 2020 and was the replacement for Fabricio Zonzini who left in the previous year.
Photo: Anheuser-Busch Media Gallery
