Beyond Meat suspends executive after he was arrested for allegedly biting a man's nose

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Doug Ramsey, successful  a photograph  provided by Washington County, Arkansas.

New York CNN Business  — 

Beyond Meat suspended its main operating serviceman aft helium was arrested implicit the play connected suspicion of biting a man’s chemoreceptor during a combat pursuing an Arkansas shot game.

Police arrested the vegan nutrient purveyor’s COO Doug Ramsey connected charges of “terroristic threatening” and third-degree artillery connected Saturday night. Ramsey was released connected an $11,000 enslaved the pursuing day, according to court records.

The institution didn’t respond to requests for remark connected the arrest. It aboriginal released a brief statement announcing that Ramsey “has been suspended effectual immediately.”

Fayetteville, Arkansas, news presumption KNWA, citing a constabulary report, said Beyond Meat’s Ramsey “punched done the backmost windshield” of a Subaru that had deed the tyre of his Bronco. The incidental took spot successful a parking store adjacent Razorback Stadium astatine the University of Arkansas.

The operator of the Subaru told constabulary that Ramsey “pulled him successful adjacent and started punching his body.” Ramsey besides spot the driver, “ripping the soma connected the extremity of the nose,” the quality study said.

Ramsey joined Beyond Meat successful December past year, pivoting from a three-decade vocation astatine Tyson Foods.

Beyond Meat had been a marketplace person successful the plant-based nutrient space, alongside rival Impossible Foods. It was a Wall Street juggernaut aft its IPO successful 2019, but since past has struggled to present connected income goals.

Shares person fallen much than 90% from their 2019 high.

On Tuesday, the banal was trading astatine astir $16, a grounds debased since its debut astatine $25 per share.

In its astir caller net report, the institution blamed ostentation for disappointing income and downbeat outlook. Beyond Meat has agelong said it hopes to standard up capable to bring the terms of its plant-based offerings successful enactment with animal-based products. But successful an net telephone with analysts, CEO Ethan Brown said the institution wasn’t determination yet. The terms of Beyond’s “beef” sells for $8.35 a pound, compared with USDA crushed beef, which sells for $4.90.

“That is simply a precise hard proposition erstwhile consumers person precise precocious levels of ostentation going connected and their buying powerfulness successful market is declining,” Brown said.

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