Beyond Meat Chief Operating Officer Doug Ramsey is leaving the company after his recent arrest for assault
Ramsey was arrested last month on on charges of “terroristic threatening” and third-degree battery after he allegedly bit a man’s nose following a Arkansas football game. Ramsey was released on an $11,000 bond the following day, according to court records. Beyond Meat\n \n suspended Ramsey over the incident. In a SEC filing, the company announced Ramsey’s departure, noting Friday will be his last day of employment.
“This decision was based on cost-reduction initiatives intended to reduce operating expenses, sharpen the company’s focus on a set of key growth priorities, and target cash flow positive operations within the second half of 2023,” it said in the filing. Beyond Meat had been a market leader in the plant-based meat space, alongside rival Impossible Foods. It was a Wall Street juggernaut after its IPO in 2019, but since then has struggled to deliver on sales goals.
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