Beyond Meat's COO (allegedly) bit off a guy's nose

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

One of Beyond Meat's top executives has been charged with assault and terrorist threats.  He allegedly attacked someone, biting 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 swimming in wrestling sauce. Doug Ramsey, director of operations at Beyond, has been suspended of the company after being arrested for allegedly biting off a man’s nose in a fight. Then there are the food disruptor’s deepening financial problems.

Ramsey reportedly got into a dispute while driving past a college football game in Fayetteville, Arkansas. According to the police report, the Beyond executive became upset when another car tried to merge into his lane.

The police report states that Ramsey got out of his car, hit through the rear windshield of the offending car, then, as the other driver got out of his vehicle, Ramsey struck him multiple times. Finally, the report alleges that Ramsey also bit the other person’s nose, “tearing the flesh,” according to a representativeorth of the Associated Press. Oh!

The director of operations has been charged with felony assault and making a terroristic threat, and was released Sunday on $11,085 bond.

Before leading operations at Beyond Meat, Ramsey spent 30 years working for Tyson Foods, the poultry production giant, in various high-level positions. There’s a Mike Tyson joke to be made here somewhere, but I just can’t put my (goosebumps) finger on it.

Ramsey’s alleged behavior is inexplicably aggressive and, frankly, disturbing. But maybe this is how (scary) man responds to stress. Beyond Meat has lost more than 85% of the value of its shares in the last 12 months, falling from about $112 to less than $17. For reference: Shortly after the company went public in 2019, the shares peaked at nearly $235.

in a sad quarterly earnings report last month, Beyond’s prospects looked even bleaker. The company revealed that its revenue had fallen 1.6% and that it had a net loss of 97 million dollars, much more than analysts expected, according to a report of the Associated Press. Amid fiscal difficulties, Beyond Meat announced 4% layoffs of its workers worldwide.

In a call to shareholders, Beyond Chairman and CEO Ethan Brown attributed the poor quarterly results to the current high overall cost of food, which makes consumers less likely to pay for premium-priced fake meats. . However, Brown made no reference to the fact that the appetite required for Beyond’s products might not be thereeven when it comes to (relatively) cheap fast food.

In early August, McDonald’s ended its six-month trial of Beyond’s McPlant burger in 600 restaurants in the United States. Note: the McPlant was still with a price greater than 65% higher than the comparable Quarter Pounder. The fast-food chain was testing the plant-based product to see how it would sell and apparently found the answer to be “not very well.”

In some rural locations, customers ordered only 3-5 McPlants per day. Even in cities like San Francisco, sales of the sandwich were reportedly Much lower than the goal. There has been no word since then on whether or not a follow-up trial is planned in the United States. However, the company still has ongoing product pilot projects. with KFCY 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 chain locations in Ohio. In contrast to McPlant, the company said the new product would be “offered at price parity with traditional Taco Bell steak to increase accessibility to plant-based products.”

photo of quesadillas

Beyond Meat sent this press photo to Gizmodo, along with other materials announcing the company’s Taco Bell launch, just two days after COO Doug Ramsey allegedly bit into someone else’s face.
Photo: beyond the meat

But even Thinking Outside the Bun doesn’t seem to have gotten Beyond back on track. The faux-roast announcement only briefly pushed share prices higher, before they started to fall again. At time of writing, shares are hovering around the same price as yesterday’s close.

Taken together, it looks like the company could be headed for a large-scale front-end plant. Which is a bit embarrassing, considering the environmental consequences of the industry Beyond Meat is theoretically trying to subvert. Plant-based burgers (and other meat substitutes) they are better for the climate than traditional beef. But beyond meIt might need a culture change (and a new executive team) if the company is going to measure up.It is a highly publicized potential.

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