In an SEC filing issued Friday, Beyond Meat said Adcock had informed the company on Sept 20 of his plans to depart, effective September 30, to pursue another opportunity.
Adcock’s role has been eliminated, with his responsibilities to be performed by SVP manufacturing operations Jonathan Nelson, who has just been tasked with taking on the COO role on an interim basis following Ramsey’s suspension.*
The move comes as Beyond Meat gears up for a showdown with former co-packer Don Lee Farms on Monday Sept 26 in Los Angeles Superior Court over the early termination of a supply agreement back in 2017, and follows a grim set of quarterly results, with net losses of $97.1m and revenues down -1.6% to $147m in Q2.
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- Beyond Meat gears up for Sept 26 showdown in L.A. with former co-packer Don Lee Farms
- Beyond Meat Q2: CEO under pressure as firm posts $97.1m loss on sales -1.6% to $147m, lowers guidance
- Protein in the dock: Labeling experts weigh in as Beyond Meat lawsuit shines light on protein content claims
- Protein content claims and methylcellulose in the spotlight as Beyond Meat hit with new lawsuits
- Beyond Meat CEO faces grilling from analysts after posting grim Q1 figures
*According to a preliminary police report obtained by CNBC, Ramsey was arrested after an altercation in parking garage near Razorback Stadium in Fayetteville, Arkansas, in which he "allegedly punched through the back windshield of a Subaru after it made contact with the front tire of Ramsey’s car. The Subaru owner then got out of his car, and Ramsey allegedly started punching him and bit his nose, 'ripping the flesh on the tip of the nose,' according to the report."