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.
*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.”