Beyond Meat has hired two Tyson Foods veterans to take on senior positions at the U.S. meat alternatives company that has been under pressure on its domestic sales for the past few months.
Doug Ramsey and Bernie Adcock, who have both been with Tyson for 30 years, join Beyond Meat as COO and Chief Supply Chain Officer respectively.
Ramsey, who most recently served at Tyson as president of the US meat giant’s poultry division and president of McDonald’s business, replaces Sanjay Shah as COO. In September it was revealed that Shah, a former Tesla and Amazon executive, had left Beyond Meat after less than two years on the job.
Adcock, most recently Tyson’s Chief Supply Chain Officer, will join Beyond Meat in the same position and take on a new role at Beyond burger maker.
Ethan Brown, Founder and CEO of Beyond Meat, said, “Doug and Bernie bring a proven track record of impressive operational excellence in the protein industry that our global partners, customers and consumers expect and deserve.
„As we’ve made it clear, we are investing today in tomorrow’s growth, whether by adding to our world-class management team or expanding operations around the world to advance our vision of being the global protein company of the future.”
In October, Beyond Meat lowered its third quarter revenue expectations, citing the impact of the pandemic, issues with dealers and customer shortages.
The company’s third quarter, which ran through October 2, saw sales in the United States decline, although international sales grew.
US revenue declined 13.9% to $ 67.5 million in the third quarter, with retail sales declining 15.6% and food service declining 7.3%. Founder and CEO Ethan Brown said Beyond Meat was facing challenges due to a surge in Covid-19, labor shortages and supply chain constraints, and „very volatile demand”.
Brown suggested at the time that the decline was due to a “pause” in consumer demand, rather than a structural problem with the meat-free meat petition.
During a follow-up interview with analysts, he said, “In my view, there is no sign that consumer attitudes towards our products have changed significantly after a record quarter to this quarter.
“I don’t think there is a sector or segment problem. We continue to see strong year-over-year growth in terms of full year sales. And if you look at 2022 and the work we’re doing there, I think there’s a tremendous amount of excitement in our company about what’s coming.
“And that’s kind of a break. And if the pandemic, labor problems and supply chains hadn’t interfered, I think this quarter would have been very different. ”
In early November, Beyond Meat rival Mle Leaf Foods, the owner of the Lightlife and Field Roast Grain Meat Co. brands, pointed to „a significant slowdown” in the category in the US (citing the pressure in the cooling segment) – and said it was scrutinizing its dedicated department.
Just Food Opinion, November 2021: Beyond Meat Sales Heightened Concerns About Alternative Meat