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| Beyond Meat executive exits after biting incident | Beyond Meat executive exits after biting incident |
| (about 4 hours later) | |
| Beyond Meat chief operating officer Douglas Ramsey | Beyond Meat chief operating officer Douglas Ramsey |
| The Beyond Meat executive who was accused of biting a man's nose is leaving the vegan food company. | The Beyond Meat executive who was accused of biting a man's nose is leaving the vegan food company. |
| The US firm, known for its plant-based burgers, had suspended Douglas Ramsey, then chief operating officer, indefinitely after the incident. | |
| His departure comes amid a broader shake-up at the company, which is struggling with faltering demand for fake meat. | His departure comes amid a broader shake-up at the company, which is struggling with faltering demand for fake meat. |
| The firm also said it was axing 200 staff, about 20% of its workforce. | The firm also said it was axing 200 staff, about 20% of its workforce. |
| "We believe our decision to reduce personnel and expenses throughout the company, including our leadership group, reflects an appropriate right-sizing of our organization given current economic conditions," Beyond Meat boss Ethan Brown said. | "We believe our decision to reduce personnel and expenses throughout the company, including our leadership group, reflects an appropriate right-sizing of our organization given current economic conditions," Beyond Meat boss Ethan Brown said. |
| "We remain confident in our ability to deliver on the long-term growth and impact expected from our global brand." | "We remain confident in our ability to deliver on the long-term growth and impact expected from our global brand." |
| Beyond Meat, which started selling its plant-based food in 2012, has blamed cost-of-living pressures for pushing shoppers to less expensive options, including traditional meat. | Beyond Meat, which started selling its plant-based food in 2012, has blamed cost-of-living pressures for pushing shoppers to less expensive options, including traditional meat. |
| The company has also seen its edge eroded by a wealth of new competitors, including from food giants such as Kellogg and Tyson Foods. | The company has also seen its edge eroded by a wealth of new competitors, including from food giants such as Kellogg and Tyson Foods. |
| Executives warned investors on Friday that sales this year are likely to fall 9% to 14% compared to 2021. | Executives warned investors on Friday that sales this year are likely to fall 9% to 14% compared to 2021. |
| Could KFC’s vegan burger challenge chicken? | Could KFC’s vegan burger challenge chicken? |
| The dad who feeds his son burgers almost every day | The dad who feeds his son burgers almost every day |
| It is the second time the company had cut its forecast in recent months - and marks a sharp slowdown from the more than 20% growth the firm had initially projected. | It is the second time the company had cut its forecast in recent months - and marks a sharp slowdown from the more than 20% growth the firm had initially projected. |
| The company said it had been "negatively impacted by ongoing softness in the plant-based meat category overall, especially in the refrigerated subsegment, and by the impact of increased competition". | The company said it had been "negatively impacted by ongoing softness in the plant-based meat category overall, especially in the refrigerated subsegment, and by the impact of increased competition". |
| "Inflation is believed to be an underlying factor exerting pressure on the category as consumers trade down into cheaper forms of protein, including animal meat," it added. | "Inflation is believed to be an underlying factor exerting pressure on the category as consumers trade down into cheaper forms of protein, including animal meat," it added. |
| Beyond Meat had announced an earlier round of job cuts in August. Multiple executives in addition to Mr Ramsey have also left the company in recent weeks. | Beyond Meat had announced an earlier round of job cuts in August. Multiple executives in addition to Mr Ramsey have also left the company in recent weeks. |
| The company did not respond to a request for comment about Mr Ramsey. | The company did not respond to a request for comment about Mr Ramsey. |
| He was arrested last month for reportedly biting a man's nose during a row after a football game in Arkansas. His last day was 14 October, the company said. | He was arrested last month for reportedly biting a man's nose during a row after a football game in Arkansas. His last day was 14 October, the company said. |
| Before joining Beyond Meat last year, Mr Ramsey had a three-decade career at meat processing giant Tyson Foods, where he oversaw the company's poultry and McDonald's business units. | Before joining Beyond Meat last year, Mr Ramsey had a three-decade career at meat processing giant Tyson Foods, where he oversaw the company's poultry and McDonald's business units. |