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CFO Patronis: Bud Light’s Head Has Been in the Sand for Far Too Long

7/20/2023
For Immediate Release: Thursday, July 20, 2023
Contact: Office of Communications, Communications@MyFloridaCFO.com, 850.413.2842

CFO Patronis: Bud Light’s Head Has Been in the Sand for Far Too Long
~Says Governor DeSantis’ Request for an Investigation is an Act of “Common Sense” ~

Tallahassee, Fla. – Today, Florida Chief Financial Officer (CFO) Jimmy Patronis issued the following statement regarding Governor DeSantis’ communication to the State Board of Administration (SBA) requesting an investigation into Anheuser-Busch InBev on how their conduct resulting in a precipitous “decline” may have affected the state’s retirement holdings. The State Board of Administration manages the state’s retirement system, and is governed by a three-member Board of Trustees, comprised of the Governor, the Chief Financial Officer, and the Attorney General.

Florida CFO Jimmy Patronis said, “The failure of Bud Light is going to be taught in business schools for decades. It’ll be a lesson on why companies should stay out of politics; on what happens when you turn your back on your customers. It’s a story about arrogance, and how a lack of accountability has led to one of the great American companies of all time bleeding cash and failing local distributors who employ so many throughout American communities. The Governor’s action is 100% the right thing to do. We have to put participants in our retirement system first, and an investigation of Anheuser-Busch InBev’s impact to the state’s retirement fund is a commonsense move. As always, Governor DeSantis is over the target. This company has had its head in the sand for too long and they should use this opportunity to course correct. Moreover, other CEOs should use this as an opportunity to shut down their woke departments. It may make you popular at cocktail parties, but it’s going to cost your company, your shareholders, and maybe your job.”

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About CFO Jimmy Patronis  
Chief Financial Officer and State Fire Marshal Jimmy Patronis is a statewide elected official and a member of Florida’s Cabinet who oversees the Department of Financial Services. CFO Patronis works each day to fight insurance fraud, support Florida’s firefighters, and ensure the state’s finances are stable to support economic growth in the state. Follow the activities of the Department on Facebook (FLDFS) and Twitter (@FLDFS).

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