Former McDonald’s CEO Don Thompson joins the board of Beyond Meat, a California startup that makes Vegan Burgers. The organization aims to recreate food stuffs like eggs and meat with plant-based ingredients, which they say are gentler on the earth.
Thompson’s collaborating with Beyond Meat comes after he ventured down as head of McDonald’s Corp. in March after about 25 years with the organization. His stepping down came as the world’s greatest burger chain battled with hanging deals and declining client visits and looked to shake up its business.
As a major aspect of his resignation from McDonald’s, Thompson consented to extend his non-compete consent to two years, as per a documenting with the Securities and Exchange Commission. The statement likewise said McDonald’s would pay Thompson $3 million for a year of his consultingservices.
The work with Beyond Meat doesn’t meddle with Thompson’s concurrence with McDonald’s, a McDonald’s spokesperson said. Beyond Meat said Thompson, 52, was not accessible for a media interview. “We anticipate working with Don to take our plant-based meats to purchasers here in the United States and abroad,” Beyond Meat founder CEO Ethan Brown said in an announcement.
Beyond Meat, situated in El Segundo, California, likewise selected board member Seth Goldman as executive chair. Goldman, 50, is the co-founder and CEO of Honest Tea, which is currently owned by Coca-Cola Co.