Beyond Meat Inc.
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said Friday Chief Operating Officer Douglas W. Ramsey is leaving the company with immediate effect. The company made the announcement in a regulatory filing, that noted Ramsey had been suspended in September. The suspension came after Ramsey allegedly bit a man’s nose during an altercation in Arkansas, as MarketWatch previously reported. Jonathan Nelson, senior vice president of manufacturing operations, who was put in place to oversee operational activities on an interim basis, is now in that role on a permanent basis, said the filing. His base salary will rise to $355,000 effective Oct. 13 and he will have a bonus target of 40% of that salary, along with a restricted stock unit award of $250,000. Ramsey was arrested and charged with third-degree battery and “terroristic threatening.” According to television station KNWA in Fayetteville, Ark., the altercation occurred in a parking garage close to the University of Arkansas’ Razorback Stadium, following a college football game between the university and Missouri State. Ramsey came to Beyond Meat from Tyson Foods Inc.
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in December. Beyond Meat also announced plans to cut 200 staff and issued a revenue warning early Friday. Shares are down 4.5% premarket.
