Source: Washington County, Arkansas
Beyond Meat said its chief operating officer Doug Ramsey has been suspended, effective immediately, after he was arrested Saturday night for allegedly punching a man and biting his nose.
The company said in a statement Tuesday afternoon that Jonathan Nelson, the company’s senior vice president of manufacturing operations, will oversee Beyond operations activities on an interim basis.
Ramsey, 53, has been charged with terrorist threat and a third-degree battery and is booked into the Washington County Jail after allegedly assaulting a driver in a parking garage near Razorback Stadium.
Ramsey allegedly pierced Subaru’s rear windshield after it made contact with Ramsey’s front tire, according to an initial police report obtained by CNBC. Then the Subaru owner got out of his car and allegedly Ramsay started punching him and biting his nose, “rip off the flesh on the tip of his nose,” according to the report. The victim also claimed and witnessed that Ramsey told the Subaru owner that he was going to kill him.
It was Ramsay Chief Operating Officer of Beyond Meat since December. News of his arrest after a football game at the University of Arkansas brought more scrutiny at the plant-based food company, which has been struggling with disappointing sales and investors skeptical about its long-term growth prospects. The stock is down 75% this year, taking the market down to $1.02 billion. Just three years ago, the company was valued at $13.4 billion.
Prior to joining Beyond Meat, Ramsey spent three decades in Tyson Foodsand supervising its poultry McDonald’s business. Beyond Meat has been drawing on his experience helping the company succeed in major launches, particularly with fast food companies like the owner of Taco Bell Yum Brands And McDonald’s.
Ramsay did not respond to a request for comment from CNBC.
“Infuriatingly humble analyst. Bacon maven. Proud food specialist. Certified reader. Avid writer. Zombie advocate. Incurable problem solver.”