The Beyond Meat executive who allegedly bit off a man’s nose is leaving the company

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Beyond Meat CEO Doug Ramsey is leaving the company after being arrested for assault.

Ramsey was arrested last month on charges of “terroristic threats” and third-degree battery after biting a man on the nose after an Arkansas football game. Ramsey was released the next day on $11,000 bond, according to court records.

Beyond Meat ( BYND ) suspended Ramsey over the incident. In an SEC filing, the company announced Ramsey’s departure, stating that Friday will be his last day on the job.

The company named Jonathan Nelson, who was overseeing Ramsey’s role on an interim basis following the hiatus, as the company’s senior vice president of operations.

Ramsey joined Beyond Meat last December after a three-decade career at Tyson Foods ( TSN ).

Shares of Beyond Meat fell 2% in premarket trading on Friday after Beyond Meat announced it was laying off 200 workers, or 19% of its workforce.

“This decision was based on cost reduction initiatives to reduce operating expenses, sharpen the company’s focus on a set of key growth priorities and focus on cash flow positive operations in the second half of 2023,” it said in the filing.

Beyond Meat was the market leader in the plant-based meat space, along with rival Impossible Foods. It was a Wall Street juggernaut after its IPO in 2019, but since then it has struggled to meet sales targets.

Shares are down more than 90% from 2019 levels.

In its latest earnings report, the company blamed disappointing sales and a poor outlook on inflation. Beyond Meat has long said it hopes to increase the price of its plant-based offerings to match its animal-based offerings. But on an earnings call with analysts, CEO Ethan Brown said the company wasn’t there yet. Beyond’s “beef” retails for $8.35 per pound, compared to USDA ground beef, which retails for $4.90.

“It’s a very difficult proposition when consumers have very high levels of inflation and the purchasing power of food is going down,” Brown said.

– CNN’s Allison Morrow contributed to this story