Beyond Meat loses another top exec after chief brand officer steps down

Drew Angerer

Beyond Meat (NASDAQ:BYND) Chief Brand Officer Beth Moskowitz is the latest high-ranking executive to leave the company over the last year, according to The Wall Street Journal.

Moskowitz reportedly told Beyond Meat (BYND) employees on Wednesday that it was her last day with the plant-based meat seller.

A BYND spokeswoman said the company has hired a replacement to lead global marketing. The new exec is expected to begin work in early February.

Last quarter, Beyond Meat (BYND) outlined plans to significantly reduce expenses and laid off almost 20% of its workforce. Looking ahead, a stated goal of Beyond Meat (BYND) is to be cash-flow positive operationally in the second half of 2023.

Beyond Meat (BYND) cooled off on Thursday with a 1.07% drop after starting the year off with a 27% rally.

Read more about why Seeking Alpha author Leo Imasuen thinks Beyond Meat's (BYND) ability to keep creating and scaling up more Beyond Steaks will form the core part of any eventual recovery.

Comments

[Dividend Pro]

Vegetarians, you disappoint me. You are not consuming enough "fake meat" burgers. Who cares how much bad stuff is in them. Eat them!#$

Save the company. It is up to you now......Eat this "meat" even though you really do not like the smell or taste of real meat.

Oh, wait............

[Clark158f1]

@Dividend Pro

It doesn't matter how many they eat because BYND loses money on each sale. If they ate more and BYND sold more the losses actually grow.

[TommyIrish]

@Clark158f1 observed "ate more and BYND [...] losses actually grow."

Yes, just unbelievably poor valley girl management.

Not on only are they a full-on cash furnace, they have managed to contrive themselves into a pretzel without EVEN gross margin.

Most incompetent food company in investment history...

[woodland]

Well another officer tasted the product I would say.

[TommyIrish]

This company had a C-suite "branding officer"?

The valley boys still live in Zootaria.

Not a question of if only when this company beats the dust.

[Pabst]

@TommyIrish Get your metaphors straight. Do you mean "bites" the dust....which it won't. Lots of good choices from the company, as witnessed today at our local Wegman's. Not every Beyond Meat product will please every tastebud (just as some prefer Duke's over Hellmann's mayo, and vice versa), but there's still a large market out there for veg/vegan food....including by non-vegetarians/vegans. Look for consolidation....and Beyond Meat will be at or near the top when the dust settles (or is it "beats").

[TommyIrish]

@Pabst believes “Beyond Meat will be at or near the top when the dust settles”

The company looked like it was going to fail from the get-go. Now the jury is in; a dozen disappointing quarterly results accompanied by enormous cash burn, eventually they will run out unless they can sell a massive amount of newly minted stock.

Interesting “post-mortem” in the WSJ a couple of month. They had some initial growth because the expanded geographies and product line. Now they are stuck with a poorly run perennially unprofitable operation that never stops undelivering and with amateurish management that never stops over-promising. If you are betting on next month’s ER is a turning point you are betting against trend.

Stock goes to $20 I am buying back some of the puts that I have sold…

[Pabst]

@TommyIrish Remember when GM and F were on "death watch"? Surviving and thriving now. I don't own BYND, but as a 31-year vegetarian I believe in the product (and others). Don't need to catch the bottom. Just waiting for stabilization.

[BuffteethrBlog]

Can we stop saying plant-based meat. There is no such thing, just like DRY water.

[Pabst]

@BuffteethrBlog Ever hear of "coconut milk" or "almond milk"?

[TommyIrish]

@BuffteethrBlog

Only thing in OUR fridge is Oat Milk, Coconut and Almond Milk, whether you call it millk or not. Even some Cashew Cheese. But, yes, zero fake meat!

[TigerCub911]

And the stock still keep on going up? Yessss

[Pmg1959]

Wonder if this guy also ate nose

[magenta17]

Their CEO should step down yesterday! They've missed EVERY quarter for the past several years! :(

[Pmg1959]

@magenta17 The CEO is one of those boy men whose gushing enthusiasm is reminiscent of infomercial pitchmen and glad-handing psychopaths