DeSantis orders inquiry into Anheuser-Busch assets.
Florida Governor Ron DeSantis Takes Action Against Anheuser-Busch InBev
Florida Governor Ron DeSantis has instructed the State Board of Administration (SBA) to launch an inquiry into the global equity assets held with Anheuser-Busch InBev. This decision comes in the wake of the company’s recent controversy involving paid marketing engagement with a controversial transgender influencer by one of its top brands, Bud Light.
DeSantis sent a letter to SBA Interim Executive Director Lamar Taylor, emphasizing the significant 30 percent loss in sales that the company experienced in June. The SBA, responsible for managing Florida’s state and local government assets, will now investigate the matter.
“As sales of AB InBev products within the U.S. continue to precipitously decline, reports are now emerging that large American mainstays like Costco will be pulling Bud Light from the shelves,” wrote the 44-year-old Republican presidential candidate. “Clearly, the Board’s mismanagement — as well as its failure to remediate the problem and repair its relationship with millions of disaffected American consumers — has led to this impasse and will continue to financially harm the SBA and other shareholders.”
DeSantis stressed the importance of the SBA fulfilling its legal obligations to “prudently manage the funds of Florida’s hardworking law enforcement officers, teachers, firefighters, and first responders” by focusing on growing returns rather than supporting an ideological agenda through “woke virtue signaling.”
“I therefore request that you immediately initiate a review to examine how AB InBev’s conduct has impacted and continues to impact the value of SBA’s AB InBev holdings,” stated the governor. “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.”
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