Past Meat, the maker of plant-based meals merchandise, introduced the suspension of its chief working officer following experiences the chief had been arrested and charged after a street rage incident by which he was accused of biting a person’s nostril.
Doug Ramsey, 53, was arrested on Saturday evening and charged with third-degree battery and making a terroristic menace, in keeping with information from Washington county, Arkansas. The information present he was launched on Sunday morning on a $11,085 bond.
Citing a police report from Saturday, native media reported Ramsey was arrested following a combat in a parking storage exterior a College of Arkansas soccer sport in Fayetteville, Arkansas, on Saturday.
In keeping with the police report cited by media, Ramsey was angered when one other driver’s automobile made contact along with his personal. The report says Ramsey exited his automotive and punched by means of the again windshield of the opposite automobile. The opposite driver exited his automotive, at which level Ramsey is alleged to have began punching him, bitten his nostril and threatened to kill him.
California-headquartered Past Meat mentioned in a press release on Tuesday afternoon Ramsey had been suspended efficient instantly. Operations actions would now be overseen on an interim foundation by Jonathan Nelson, the corporate’s senior vice-president for manufacturing operations.
Ramsey joined Past Meat in December 2021, following an nearly three-decade profession at Arkansas-based Tyson Meals, one of many greatest producers of conventional meat within the US.
The suspension of its COO comes at a troublesome time for Past Meat, which in latest months has introduced job cuts and downgraded its gross sales outlook due owing to continued inflationary pressures and the necessity to low cost its merchandise in an effort to draw buyers.
Past Meat shares have shed greater than three-quarters of their worth in 2022 and closed at a report low of $16.03 on Tuesday. Shares briefly modified arms for greater than $230 about two months following the corporate’s preliminary public providing in Might 2019, when it floated at a worth of $25 a share.