Impossible Foods Ceo To Step Down From Alt-meat Firm

Credit: Steve Heap/ Shutterstock.com.

Impossible Foods CEO Peter McGuinness has stepped down aft starring nan S plant-based nutrient institution for astir 4 years.

In a statement, nan institution said McGuinness’s responsibilities will beryllium assumed by an executive activity squad alternatively than a azygous CEO. The group comprises Jason Gao, Impossible Foods’ main ineligible and operating officer; Meredith Madden, nan company’s main request officer; and Robert Haas, main proviso officer.

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Impossible Foods committee personnel Fedele Bauccio said: “We’re grateful for Peter’s impactful activity arsenic CEO, which helped found Impossible arsenic nan strongest subordinate successful nan category, and we’re happy he will stay connected nan Board.

“We person nan utmost assurance successful Jason, Meredith and Rob to lead nan institution into its adjacent section of growth.”

Impossible Foods said nan modulation is happening “from a position of strength”. Without providing data, nan institution said nether McGuinness’s activity nan institution outperformed nan broader plant-based class done “innovation, request creation and captious distribution gains”.

Retail income successful nan wide US plant-based nutrient marketplace person travel nether unit successful caller quarters, pinch class income successful decline.

McGuinness’s tenure included efforts to reposition nan Impossible brand. The patient redesigned its marque personality to item that plant-based nutrient tin beryllium “more food- and taste-forward”.

Founded successful 2011, Impossible Foods produces plant-based chicken, beef and pork alternatives.

Last month, nan business partnered pinch food-tech start-up Equii to grow its merchandise pipeline pinch selected grain-based products.

McGuinness said: “Over nan past 4 years we’ve expanded, evolved and invested successful some nan institution and nan brand. We constructed a sustainable business that could support our sustainable mission.”