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Beyond Meat CFO Lubi Kutua has taken over as chief accounting officer on an interim basis, effective Jan. 6, the company announced in an SEC filing. He replaces Henry Dieu who is leaving the company for another opportunity.
Kutua took on the CFO role at Beyond in 2022 when he was promoted from vice president of financial planning and analysis and investor relations.
His time in the C-suite has come as the plant-based meat producer and other players in the category grapple with slowing demand. In recent months, Beyond Meat has reduced its workforce and considered exiting certain product lines in the U.S.
A TD Cowen report in November said Beyond Meat is in “survival mode” with a “going concern” risk possible for the plant-based pioneer due to deteriorating trends in its business and negative cash flow. Around the same time, Ethan Brown, Beyond Meat’s CEO, said he expected “current headwinds to persist in the coming quarters.”
via https://www.aiupnow.com
Elizabeth Flood, Khareem Sudlow
