The director of operations at vegan food supplier Beyond Meat was arrested over the weekend after allegedly biting a man’s nose during an altercation following a football game in Arkansas.
Police arrested director Doug Ramsey on terrorist threat and third-degree assault charges Saturday.
Ramsey was released on $11,000 bail the next day, according to court records.
The company did not immediately respond to requests for comment.
Fayetteville, Arkansas, news station KNWA, citing a police report, said that Beyond Meat’s Ramsey “crossed the rear windshield” of a Subaru that hit the tire of his Bronco.
The incident took place in a garage near the University of Arkansas’ Razorback Stadium.
The Subaru driver told police that Ramsey “pulled him close and started punching his body”.
Ramsey also bit the driver, “tearing flesh on the tip of his nose,” the report said.
Ramsey joined Beyond Meat in December of last year after a three-decade career at Tyson Foods.
About the company
Beyond Meat was a market leader in the plant-based meat sector, alongside rival Impossible Foods.
It was a Wall Street giant after its 2019 IPO, but has since struggled to meet sales targets. Stocks are down more than 90% from their 2019 high.
On Tuesday (20), the stock was trading at around $16, a record low since its debut at $25 a share.
In its most recent earnings report, the company blamed inflation for disappointing sales and pessimistic outlook.
Beyond Meat has long said it hopes to raise enough to align the price of its plant-based offerings with animal-based products.
But on an earnings call with analysts, CEO Ethan Brown said the company has not yet reached that level.
Beyond’s “beef” retails for $8.35 a pound, compared to USDA ground beef, which sells for $4.90.
“This is a very difficult proposition when consumers have very high levels of inflation and their purchasing power at the supermarket is decreasing,” Brown said.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
