Beyond Meat names former Amzon executive as chief operating officer

USA – Los Angeles-based meat-alternative producer, Beyond Meat has appointed Sanjay Shah as the company’s new chief operating officer, effective September 18, 2019.

Shah, who had earlier on served as an executive in Amazon and Tesla, brings in more than 25 years of industry experience.

Shah was most recently serving as the senior vice president of Tesla’s solar business, a role he took in May 2018. He joined Tesla from Amazon, where he served in a variety of roles from 2011 to 2018.

Shah has also served as managing director of Southeast Asia of MFG.com and held his position as executive director at Dell for nine years.

As the new chief operating officer of Beyond Meat, Shah will be responsible for the company’s global operations and production.

“Sanjay brings a wealth of experience in scaling and operating very high growth businesses, none more important in our consideration than Amazon, where Sanjay managed a majority percentage of North American fulfillment over the course of his career,” said Ethan Brown, president and chief executive of Beyond Meat.

“Sanjay’s focus on making operational excellence a sustained competitive advantage, his experience in and appetite for global expansion, along with shared values and a tireless work ethic, makes him a welcome addition to the Beyond Meat family.”

Growth prospects in the alternative meat market

According to a recent coverage by Barclays, the company says that Beyond Meat is well-positioned with the potential to capture a large share of the alternative meat market, reports CNBC.

Barclays analyst, Benjamin Theurer, estimates that Beyond Meat could reach 4.5% market share of the global alternative meat industry, which in turn could capture 10% of the global meat industry in a decade.

“There’s a big potential, both at the top and at the bottom: We expect growth to continue at high levels for upcoming years, and expects the company to achieve a 15% EBITDA margin by 2029, in line with its long-term guidance,” the Barclays analyst said.

Currently, the plant-based meat market in the US is valued at $14 billion and Barclays estimates that the market could hit US$140 billion in the next ten years.