Beyond Meat eliminates supply chain chief role after exec steps down
Stock Markets Sep 23, 2022 05:55PM ET
© Reuters. A giant digital display shows Beyond Meat (BYND) listed on the NASDAQ stock exchange during the company’s IPO at the NASDAQ Market Site in Times Square in New York City, New York, U.S., May 2, 2019. REUTERS/Mike Segar
(Reuters) – Beyond Meat (NASDAQ:) Inc said on Friday it would eliminate the role of chief supply chain officer after Bernie Adcock notified he would step down from the role, effective Sept. 30.
The plant-based meat producer said interim chief operating officer and senior vice president of manufacturing operations, Jonathan Nelson, will oversee the company’s supply chain responsibilities once Adcock leaves.
Beyond Meat added Adcock was leaving to take another opportunity.
Earlier this week, Nelson was tasked with overseeing operations on an interim basis after operating chief Doug Ramsey was arrested for allegedly biting a man’s nose.
Surging inflation has dampened the company’s efforts to make its pricier plant-based meat more affordable to consumers forcing it to lower its revenue forecast for 2022 and cut 4% of its global workforce in August.