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Beyond Meat’s COO (allegedly) bit a guy on the nose

Beyond Meat's COO (allegedly) bit a guy on the nose
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One of Beyond Meat's top executives has been charged with assault and making terrorist threats.  He allegedly attacked someone and bit their nose hard enough to tear flesh.

Thoughts and prayers for Beyond Meat at this difficult time. The plant-based burger replacement company is currently awash in battle sauce. Doug Ramsey, Chief Operating Officer of Beyond, was suspended from the company after he was allegedly arrested bite a man’s nose in a fight. Then there’s the food disruptor’s deepening financial woes.

Ramsey reportedly got into an argument while driving before a college football game in Fayetteville, Arkansas. According to the police report, the Beyond manager was upset when another car tried to pull into his lane.

The police report alleges that Ramsey got out of his car and hit him through the rear windshield of the offending car, then – as the other driver got out of his vehicle, Ramsey hit her multiple times. After all, that’s what the report claims Ramsey also bit the other person’s nose, “ripping the flesh,” according to the statement and the taillocation from Associated Press. whoops

The COO was charged with assault and making a terrorist threat and was released Sunday on $11,085 bail.

Before leading operations at Beyond Meat, Ramsey spent 30 years working for Tyson Foods, the poultry production giant, in various senior positions. There must be a Mike Tyson joke going on here somewhere, but I just can’t pinpoint it.

Ramsey’s alleged behavior is inexplicably aggro and frankly, disturbing. But perhaps this is just how the (terrifying) man responds to stress. Beyond Meat has lost more than 85% of its stock value over the last 12 months, falling from around $112 to less than $17. FYI, shortly after the company’s IPO in 2019, the stock peaked at nearly $235.

In a gloomy quarterly results report Over the past month, Beyond’s prospects have been looking bleak. The company said its revenue was down 1.6% and that it had a net loss of $97 million — much larger than analysts had expected a report from The Associated Press. Amid the fiscal hardship, Beyond Meat announced Layoffs of 4% its employees worldwide.

Speaking to shareholders, Beyond’s president and CEO, Ethan Brown, attributed the poor quarterly earnings to the current high overall food cost, which makes consumers less likely to pay for expensive fake meat. However, Brown wasn’t referring to the fact that there is a requisite appetite for Beyond’s products maybe not thereeven if it is a (relatively) cheap, quick meal.

In early August, McDonald’s ended its 6-month trial of Beyond’s McPlant Burger at 600 restaurants across the United States. Note: The McPlant was silent priced more than 65% higher than the comparable quarter pounder. The fast-food chain tested the plant-based product to see how it would sell and apparently found the answer “not very good”.

In some rural locations, customers only ordered 3-5 McPlants per day. Sales of the sandwich have even been reported in cities like San Francisco much deeper as the target. Since then, there has been no news as to whether another US trial is planned or not. However, the company still has ongoing product pilots with KFCand Panda Express.

And Beyond announced a new fast food partnership with Taco Bell on Wednesday. The company is testing Beyond Carne Asada Steak at 50 of the chain’s Ohio locations. Unlike McPlant, the company said the new product “will be offered at the same price as Taco Bell’s traditional steak to increase access to plant-based products.”

Photo of quesadilla

Beyond Meat sent this press photo along with other materials announcing the launch of Taco Bell to Gizmodo just two days after COO Doug Ramsey allegedly bit someone else in the face.
photo: Beyond meat

But even Thinking Outside the Bun doesn’t seem to have got Beyond back on track. The faux carne asada announcement sent stock prices up only briefly before they began falling again. As of this writing, shares are hovering around the same price as they were at yesterday’s close.

All in all, it seems like the company could be heading towards a full-scale face factory. Which is kind of a shame considering that environmental impact of industry Beyond Meat attempts to theoretically subvert. Plant-based burgers (and other meat substitutes) are better for the climate than traditional cow-based beef. But beyond mThey need a culture shift (and a new leadership team) if the company is to live up to itwith a lot of hyped potential.

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