Past Meat Inc.’s chief working officer stepped down this week, the corporate introduced Thursday, lower than two years after his arrival.
didn’t state a cause for the departure in a disclosure filed with the Securities and Change Fee on Thursday afternoon, saying solely that COO Sanjay Shah notified the corporate on Monday that he was stepping down instantly. The corporate had not responded to an electronic mail searching for further remark by the point of authentic publication.
Shah arrived in September 2019 from Tesla Inc.
the place he had been in command of the electric-car firm’s photo voltaic efforts for lower than two years earlier than leaving. Earlier than that, Shah spent greater than seven years at Amazon.com Inc.
As COO of Past Meat, he was in command of international operations and manufacturing, an necessary function for the meat-alternative firm because it makes an attempt to scale manufacturing of its meals merchandise.
When Beyond Meat hired Shah in 2019, he obtained a inventory package deal that vested over the primary two years of the job, with half vesting on the finish of 1 yr and the remaining quarterly by way of his second yr, which might have ended this month.
Past Meat disclosed that Shah’s duties will likely be dealt with by Jonathan Nelson, who’s presently vp for North American operations, whereas the corporate searches for a alternative. Nelson joined Past Meat in Might after beforehand working for food-and-beverage firm SunOpta Inc.
Past Meat shares declined about 1.5% in after-hours buying and selling Thursday, after closing with a 0.8% decline at $119.74. Past Meat inventory has declined 4.2% thus far this yr, because the S&P 500 index has gained 20.5% and rival Not possible Meals Inc. heads toward an expected initial public offering.
https://www.marketwatch.com/story/former-tesla-amazon-exec-steps-down-as-beyond-meat-coo-less-than-two-years-after-arrival-11630616757?rss=1&siteid=rss | Former Tesla, Amazon exec steps down as Past Meat COO lower than two years after arrival