Two Tyson Executives Move to Beyond Meat After 30 Years in the Industry
Following nearly three decades at meat giant Tyson Foods, top executives Bernie Adcock and Doug Ramsey just announced their transition to vegan meat brand Beyond Meat. By leaving the meat giant, the two executives signify the rising shift towards plant-based protein as sustainable growth accelerates worldwide. Beyond acquires the two top executives in an effort to use their experience to maximize growth in development and distribution.
Adcock – who worked in Tyson’s operations and supply chain management for 31 years – joins Beyond Meat as the Chief Supply Chain Officer. Ramsey will join Beyond Meat as the Chief Operating Officer after working for Tyson’s poultry and McDonald’s categories. The ex-Tyson executives will leave the largest animal meat company in the US to help the plant-based protein industry, marking an unprecedented move regarding both industries.
“Beyond Meat is the gold standard in the plant-based meat industry and I am proud to join in its mission to produce delicious products that are healthier for our customers and more sustainable for our planet,” Ramsey said in a statement. “I’m thrilled to be a part of a company that is constantly innovating and delivering high-quality products to some of the world’s most prominent foodservice and retail customers.”
In recent months, Beyond’s stock market valuation has fallen 45 percent, dragging its market value down to $4.5 billion. However, the company is steadfast in promising growth in the near future. The company cites that it intends to increase its market presence through retail and fast food partnerships. Beyond already partnered with McDonald’s and Yum! Brand to increase its accessibility. Despite stock and pandemic-related issues, the company is optimistic about the future, especially after welcoming Adcock and Ramsey to the Beyond team.
“I’m delighted to join Beyond Meat at a moment when the company is rapidly scaling for strategic partners, customers, and consumer demand in the United States and globally,” Adcock said in a statement. “I am looking forward to supporting the company’s planned growth through the expansion of supply chain capacity domestically and in high-potential markets like the European Union and China.”
While Beyond has experienced a slight setback, the plant-based market is avoided any market barriers to slow down its growth. A recent report from Bloomberg Intelligence found that the plant-based protein market could exceed $162 billion by 2030. The report projects that if plant-based growth continues at the same rate, then it could account for nearly 8 percent of the global protein market.
Beyond Meat launched in 2009 when CEO Ethan Brown set out to replace animal meat with plant-based alternatives. The company debuted its first product – the Beyond Burger – in 2016 at one Colorado-based Whole Foods. Since then, the business expanded to more than 128,000 retail and foodservice outlets. Brown believes that the company’s momentum and future partnerships situate Beyond for rapid growth in the next year. The company is working with several fast-food giants including McDonald’s to release innovative, affordable, and delicious vegan alternatives.
“After a long and careful search, I could not be more thrilled to announce the arrival of Doug Ramsey and Bernie Adcock at Beyond Meat. Doug and Bernie bring a proven track record of impressive operational excellence in the protein industry that our global partners, customers, and consumers expect and deserve,” Brown said in a statement. “As we’ve made clear, we are investing today in tomorrow’s growth, whether by adding to our best-in-class management team or by building out operations around the world, to advance our vision of being the global protein company of the future.”
Tyson is the world’s largest animal-based meat producer in the United States, but the company is making significant strides to create plant-based selections. The company was an early investor of Beyond Meat but proceeded to sell its shares in 2019 when it started developing its own plant-based line, Raised & Rooted. The company revealed its first plant-based burgers earlier this year, removing all animal products from the brand’s selection. While Tyson lost two executives to the plant-based sector, the meat giant is preparing its own plant-based selections, partnering with companies like Jack-in-the-Box to feature its vegan products.