Source: Washington County, Arkansas
Beyond Meat said 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 company̵[ads1]7;s senior vice president of manufacturing operations, will oversee Beyond’s operational activities on an interim basis.
Ramsey, 53, was charged with terroristic threats and third-degree battery and booked into the Washington County Jail after allegedly attacking a driver in a parking garage near Razorback Stadium.
Ramsey reportedly smashed through the rear windshield of a Subaru after it made contact with the front tire of Ramsey’s car, according to a preliminary police report obtained by CNBC. The Subaru owner then got out of his car and Ramsey allegedly began punching him and biting his nose, “tearing the flesh on the tip of his nose,” according to the report. The victim and a witness also alleged that Ramsey told the Subaru owner that he wanted to kill him.
Ramsey has been Beyond Meat’s chief operating officer since December. News of his arrest after a University of Arkansas football game brought more scrutiny to the vegan food company, which has struggled with disappointing sales and investor skepticism about its long-term growth prospects. The stock has fallen 75% this year, pulling the market down to $1.02 billion. Just three years ago, the company was valued at $13.4 billion.
Before joining Beyond Meat, Ramsey spent three decades at Tyson Foods, overseeing its poultry and McDonald’s operations. Beyond Meat relied on its experience to help the company pull off big launches, particularly with fast-food companies like Taco Bell owner Yum Brands and McDonald’s.
Ramsey did not respond to a request for comment from CNBC.