Beyond Meat suspends COO after arrest for allegedly biting man’s nose

(Reuters) – Past Meat Inc’s Chief Working Officer Doug Ramsey has been suspended efficient instantly, the corporate mentioned on Tuesday, following reviews of the chief’s arrest for allegedly biting a person’s nostril throughout an altercation.

The plant-based meat producer mentioned the operations actions will probably be overseen on an interim foundation by Jonathan Nelson, senior vp of producing operations.

Shares of the corporate which closed down 6% on Tuesday, had been up 0.6% in prolonged buying and selling.

Ramsey was detained on Saturday on prices of third-degree battery and for threatening, in response to court docket information. He was launched on a $11,000 bond on Sunday. In accordance with media reviews, the incident occurred at a parking storage close to Razorback Stadium in Fayetteville, Arkansas.

Ramsey took on the COO’s position at Past Meat in December 2021 after having served for 3 a long time in numerous management roles at Tyson Meals Inc.

Final 12 months, Past Meat’s then finance chief Mark Nelson retired shortly after being named in a fraud claims lawsuit filed by Don Lee Farms, a former Past Meat provider.

(Reporting by Ananya Mariam Rajesh in Bengaluru; Modifying by Shailesh Kuber)