Beyond Meat cuts 19% workforce, CFO resigns, issues revised FY2022 revenue guidance

BEYOND MEAT, INC.

Workforce reduction of ~200 employees (19% of global workforce); one-time cash charges ~$4M in Q4 2022.
CFO Phil Hardin resigning Oct 12, 2022; replaced by Lubi Kutua (VP FP&A & IR) effective Oct 13, 2022.
Global Chief Growth Officer/President NA Deanna Jurgens departing; role eliminated; sales to report to new SVP Mike Sharman.
Combined actions expected to save ~$27M cash operating expenses and ~$12M non-cash stock-based compensation over 12 months.
Company issued updated FY2022 revenue outlook; targeting cash flow positive operations in H2 2023.

item 2.02 item 2.05 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Jonathan Nelson

Senior Vice President, Operations

BYND · BEYOND MEAT, INC.

Effective: 2022-10-13
Filed: October 14, 2022, 7:59 PM ET

Jonathan Nelson will lead operations and supply chain, now on a permanent basis, as Senior Vice President, Operations.

Departed

Douglas W. Ramsey

Chief Operating Officer

BYND · BEYOND MEAT, INC.

Effective: 2022-10-14
Filed: October 14, 2022, 7:59 PM ET

Mr. Ramsey’s last day of employment with the Company is October 14, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Jonathan Nelson was appointed as Senior Vice President, Operations at BEYOND MEAT, INC..

Action: appointed to permanent role
Role: Senior Vice President, Operations

Exact text from the filing

Jonathan Nelson will lead operations and supply chain, now on a permanent basis, as Senior Vice President, Operations.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Douglas W. Ramsey departed as Chief Operating Officer at BEYOND MEAT, INC..

Action: resigning
Role: Chief Operating Officer

Exact text from the filing

Mr. Ramsey’s last day of employment with the Company is October 14, 2022.

View on SEC.gov

BEYOND MEAT, INC. filing history →

Source: SEC EDGAR

accession 0001655210-22-000206

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