Anheuser-Busch's chief US marketing officer steps down as sales continue to plunge in the wake of Dylan Mulvaney and Bud Light fiasco: World's biggest brewer reports 13.5% slump in revenue in the third quarter

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The 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. 

Anheuser-Busch InBev CMO Benoit Garbe (pictured) is stepping down following the dramatic fall in revenue from Bud Light's disastrous marketing earlier in the year

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 

In April, Bud Light partnered with transgender influencer Dylan Mulvaney, leading to backlash from customers and billions in losses

The fallout from the Mulvaney partnership led to a devastating stint for Bud Light, where it suffered repeat double-digit revenue drops on a near-weekly basis. 

Nationwide backlash to the company's marketing even led to some stores selling the beer for less than water, as the parent company lost a staggering $6 billion in market capital in just six days after the advertising. 

Some fans also criticized the company's response to the controversy, where it was seen by some as over-compensating with overtly patriotic advertising to try and right the ship. 

As the dip in revenue continued through the year, it has hurt the profits of Anheuser-Busch InBev, the world's largest brewer that produces a large number of beers including Budweiser, Michelob, and Stella Artois. 

In August, just months after the Mulvaney advertising ran in April, it was reported that Anheuser-Busch InBev had suffered a staggering $390 million drop in US sales. 

The second quarter losses at the time stood at 10.5 percent, showing the company's decline has worsened after its Tuesday third quarter reports dropped a further three percent. 

Following the departure of Garbe, the company said its US chief commercial officer Kyle Norrington will take over his role as chief US marketing officer.

Bud Light's marketing mistakes have been cited by some as originating from marketing executive Alissa Gordon Heinerscheid, whose team oversaw the partnership with Mulvaney.

Heinersheid had reportedly vowed to lead an inclusivity revolution at the beer giant, in an attempt to ditch its 'fratty' image. 

Her team was responsible for Bud Light's widely-lauded Super Bowl ad featuring Miles Teller and his wife Keleigh Sperry, and 'the Bud Light Carry' ad, which shows a woman carrying a round of beers to a table of friends without spilling a drop. 

Those ads were part of Heinerscheid's vision to make the brand more female friendly - something she has described as a 'passion point'. 

US sales for parent Anheuser-Busch fell by 13.5 percent between July-September. The figure was based on revenue per 100 liters, a common measure for beer sales

Some have cited Bud Light's marketing nightmare as originating from marketing executive Alissa Heinserscheid, who vowed to change the brand's 'fratty' image 

Anheuser Busch CEO and president of InBev's North American zone, Brendan Whitworth, said Garbe's move is part of a reshuffle to 'reduce layers within our organization and better enable our top commercial leaders to drive our business and legacy forward.' 

Bud Light's standing as America's favorite beer, a title it proudly held for 22 years, was also lost in the boycott as it was replaced by Modelo Especial for the nation's favorite beer back in June. 

The company appeared to lay the blame for its poor third quarter on the Mulvaney debacle, as its sales to US retailers has also dropped nearly 17 percent 'primarily due to the volume decline of Bud Light.' 

Bud Light's attempts to stop the fallout, including writing checks to distributors and increasing its marketing spending on the brand, led to a 29 percent decline in adjusted US earnings, according to CNN Business. 

The outlet cited the CMO's departure as reason to believe the parent company has not given up on Bud Light, alongside the company's research finding 40 percent of lost companies are willing to return. 

The CEO of Anheuser Busch InBev, Michel Doukeris, said in a Tuesday analyst call discussing the poor third quarter results that the internal research 'gives us some certainty that we are moving in the right direction.' 

'We have a good grip on what we need to do and how we are proceeding from here.' 

The company said its US chief commercial officer Kyle Norrington (pictured) will take over  as chief US marketing officer

The beer giant's PR disaster went from bad to worse when it swiftly broke off the contract with Mulvaney, and former Bud Light employees accused leaders of 'cowardice' for failing to support the influencer

In response to the backlash, Bud Light was criticized for over-compensating with overtly patriotic marketing to try and right the ship  

AB InBev CEO Michel Doukeris said the company is focusing its US marketing on more traditional outlets, like college football and concerts following April's controversy.

Earlier in October, the company announced a multiyear partnership that will make Bud Light the official beer of the UFC mixed martial arts organization. Bud Light was one of the UFC's original sponsors 15 years ago.

The beer company announced a $3 million scholarship project for families of America's fallen or disabled first responders, another long-time partner of Anheuser-Busch.

Doukeris said those efforts are bearing fruit. AB InBev's total share of the U.S. market - including brands like Michelob Ultra and Busch Light - fell to just over 36 percent in late April but has remained there ever since, he said.

In a sign of its confidence, AB InBev announced a $1 billion share buyback program Tuesday, which will be executed over the next year. InBev's shares on the Nasdaq stock exchange rose nearly 5 percent in morning trading.