Skip to content
Beyond Meat suspends executive after being arrested on suspicion of biting a man’s nose
Police arrested the vegan food provider’s chief operating officer, Doug Ramsey, for “terrorist threat” and third-degree assault on Saturday night. Ramsey was released on $11,000 bail the next day, according to court records.
The company did not respond to requests for comment on the arrest. He then issued a brief statement announcing that Ramsey “has been suspended effective immediately”.
Fayetteville, Arkansas, news station KNWA, citing a police report, said Beyond Meat’s Ramsey “pierced the rear windshield” of a Subaru that hit the tire of his Bronco. The incident happened in a parking lot near the University of Arkansas’ Razorback Stadium.

The driver of the Subaru told police that Ramsey “pulled him close and started punching him.” Ramsey also bit the driver, “tearing the flesh on the tip of his nose,” according to the report.

Ramsey joined Beyond Meat in December last year, after a three-decade career at Tyson Foods.

Beyond Meat was a market leader in plant-based meat, alongside rival Impossible Foods. It was a Wall Street juggernaut after its IPO in 2019, but since then has struggled to meet its sales targets.

Shares have fallen more than 90% from their 2019 peak.

On Tuesday, the stock was trading around $16, an all-time high since its debut at $25 per share.

In its latest earnings report, the company blamed inflation for disappointing sales and a gloomy outlook. Beyond Meat has long said it hopes to raise enough to bring the price of its plant-based offerings in line with that of animal-based products. But on a conference call with analysts, CEO Ethan Brown said the company isn’t there yet. Beyond’s “beef” price sells for $8.35 a pound, compared to USDA ground beef, which sells for $4.90.

“It’s a very tough proposition when consumers have very high levels of inflation and their buying power in groceries is down,” Brown said.

Cnn

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.