The new COO has a tie MCD, but of course.
BYND IS A SHORT
In a significant move to fill massive holes in the company's executive ranks, Beyond Meat names Tyson Foods' Doug Ramsey as the company's new chief operating officer. Ramsey spent three decades at Tyson Foods overseeing the company's poultry and "McDonald's businesses." Also, Bernie Adcock joins in the newly created role of chief supply chain officer at Beyond Meat, following three decades of experience in operations and supply chain management at Tyson Foods. "The pair will be instrumental in growing Beyond Meat's operations, supply chain, and manufacturing, and driving efficiencies to unlock cost-savings as the company pursues its long-term goal of price parity with animal protein," the company statement.
Hiring a COO with a tie to MCD and highlighting it in a press release seems like an act of desperation.
BLACK BOX DATA
Soft Restaurant Sales and Traffic Growth Thanksgiving Week with Data through the week ending November 28, 2021. Year-over-year growth in average check increased again, with the most significant increase in check since the last week of March. All segments experienced a slowdown in sales growth rates compared to the previous week. The most significant drops in sales growth were fast-casual, quick service, and fine dining. Still, despite the decline in sales growth, all segments except for family dining posted positive sales growth. Dinner sales growth softened by 1.5% compared to the previous week's rate, while lunch growth fell by 1.0%. Much more significant drops were seen in breakfast, mid-afternoon, and late-night. California, Florida, Mountain Plains, and New England were the best performing regions. The regions with the lowest sales growth were the Southwest, Midwest, Mid-Atlantic, Southeast, and Texas.
Gig Workers IN THE EU
Just Eat is a LONG
The CEO of Just Eat always thought this was a possibility and many of his competitors would be hurt by potential changes in the law. The EU Commission's draft proposal for clarifying gig-economy worker' rights is set to add costs to many in the food-delivery space. The EU forecasts reclassifying some currently autonomous workers as employees could add EUR4.5 billion in costs annually for the delivery platforms. Deliveroo is most exposed with potentially if gig-economy workers are reclassified as employees and minimal exposure for Just Eat Takeaway, as the company already employs most of its GIG workers. Just Eat Takeaway shares are down about 50% this year and under the radar of a few activists. While the EU's proposal could take years to come into legislation, it could be overhang and slow DoorDash's international expansion plans. On the other hand, it might also give it more leverage for further consolidation, which the activists are pushing.
