Kellogg’s CEO John Bryant says the company’s plummeting stock and reported $53 million loss in the fourth quarter are unrelated to the company’s politically driven decision last year to pull ads from Breitbart News, which spurred a boycott campaign and intense online backlash.

According to the Associated Press, Bryant says that “the company did not see any effect it could attribute to the boycott.”

Last November, Kellogg’s pulled its ads from Breitbart News, caving to the demands of left-wing pressure groups.

Kellogg’s spokesman Kris Charles said Breitbart News and its tens of millions of readers “aren’t aligned with” the cereal maker’s “values as a company