Bernie Adcock, Beyond Meat’s chief supply chain officer, is stepping down at the end of this month to pursue another opportunity, according to a company filing with the Securities and Exchange Commission.
The company will not be replacing Adcock, choosing instead to eliminate the role of chief supply officer. His duties will become the responsibility of Jonathan Nelson, the company’s current senior vice president for manufacturing operations.
Adcock, who had worked for the plant-based meat company since December, is the second high-profile employee to step back from active employment with the company. The company suspended Doug Ramsey, its chief operating officer, last week following his arrest after what officers say was a road rage incident following a college football game.
Nelson also is performing the duties of the chief operating officer on an interim basis.
In December, Beyond Meat jointly announced the hires of Adcock and Ramsey, both of whom had worked at Tyson Foods for decades. In the release about their hire, the company said they would be “instrumental in growing Beyond Meat’s operations, supply chain, and manufacturing, and driving efficiencies to unlock cost-savings.”
Adcock, who was the first person to serve in the chief supply officer role, held the same position at Tyson for nearly eight years, according to his LinkedIn page. He worked for the meat and poultry processing company for 31 years in total. At Beyond Meat, Adcock was a direct report to Ramsey.
According to the SEC filing, Adcock put in his notice on the same day that news of Ramsey’s arrest spread online.
The executive upheaval continues what has been a rocky period for Beyond Meat and the plant-based meat sector. The last 12 months have seen sales slow throughout the segment.
Ethan Brown, Beyond Meat’s CEO, said on an earnings call last month that high inflation and more careful spending meant consumers are less likely to buy the company’s premium plant-based meat. The California-based food maker also announced it would lay off about 4% of its total workforce, or about 40 employees.
Beyond Meat had already been dealing with other supply chain challenges. Earlier this year, the costs for its new plant-based jerky, released as part of Beyond Meat’s joint venture with PepsiCo, drove a $100.5 million loss in a single quarter. At the time, Brown said the loss — which came from manufacturing and distribution costs — would result in a long-term growth opportunity.
