<div>
 <ul>
 <li>
 
 Meati Foods (formerly Emergy Food), a mycelium-based meat alternative developer, has appointed Phil Graves, who joined the company earlier this month as CFO, as its new CEO.
 
 </li>
 <li>
 
 Graves will focus on aligning the company's resources with profitability objectives and work on right-sizing its workforce to pave the way for sustainable long-term expansion, which includes a planned 13% reduction in workforce.
 
 </li>
 <li>
 
 Graves has extensive experience in strategic planning, financial management, and operational optimization and has successfully scaled mission-driven companies like Patagonia, Wild Idea Buffalo, and Bass Pro Shops/Cabela&rsquo;s.
 
 </li>
 <li>
 
 Analyst QuickTake: 
 In June 2023, Meati held a round of 
 <a href="https://sp-edge.com/updates/19076">
 layoffs
 </a>
 , which affected 5% of its 300-person workforce. The planned workforce reduction is similar to decisions by other industry players, like 
 <a href="https://sp-edge.com/updates/23413">
 Beyond Meat
 </a>
 and 
 <a href="https://sp-edge.com/updates/16015">
 Impossible Foods
 </a>
 , to improve resource allocation and long-term sustainability.
 
 </li>
 </ul>
 
 
</div>

<div>
 
 <a href="https://www.businesswire.com/news/home/20240220059283/en/Meati-Foods-Announces-Appointment-of-Phil-Graves-as-CEO-in-Continued-Drive-for-Profitability-and-Streamlined-Operations">
 Press release
 </a>
 
 
 <a href="https://techcrunch.com/2024/02/20/meati-foods-cuts-workforce-amid-ceo-shift/">
 TechCrunch
 </a>
 
 
 
</div>

Plant-based Meat

ANALYST_QUICK_TAKE

<div>
 Meati Foods, previously known as Emergy Food, has appointed Phil Graves as its new CEO. Graves joined Meati Foods earlier in the month as CFO.
 In his new role, Graves will focus on aligning the company's resources to meet profit goals and also work to optimize the workforce in preparation for sustainable long-term growth. The company plans a 13% reduction in workforce as part of this strategy.
 In the past, Graves has contributed to the success of mission-driven companies such as Patagonia, Wild Idea Buffalo, and Bass Pro Shops/Cabela’s. His expertise includes strategic planning, financial management, and enhancing operational efficiency.
 
</div> Analyst QuickTake: 
 In June 2023, Meati held a round of <a href="https: 
//sp-edge.com/updates/19076"> layoffs </a> , which affected 5% of its 300-person workforce. The planned workforce reduction is similar to decisions by other industry players, like <a href="https: 
//sp-edge.com/updates/23413"> Beyond Meat </a> and <a href="https: 
//sp-edge.com/updates/16015"> Impossible Foods </a> , to improve resource allocation and long-term sustainability.

Meati Foods appoints Phil Graves as CEO

DISRUPTOR_PRESENT

PROMINENT_CATEGORY

Meati Foods, a plant-based meat developer, has obtained a patent for a composition of matter that includes mushroom root or mycelium. This patent, valid until 2039, gives Meati exclusivity in using Neurospora crassa in their alternative meat products such as plant-based steaks and whole-cuts.

All Updates

Meati Foods appoints Phil Graves as CEO

Meati Foods receives new US patent for mushroom root

Meati partners with Whole Foods Market for nationwide launch

Meati partners with PIPA to improve nutrition of plant-based meats

Meati partners with Dot Foods for wide-scale retail launch

Meati Foods lays off 5% of workforce

Meati expands into 260 Meijer locations

Meati rolls out mushroom root cutlets and steaks at Sprouts Farmers Market locations across the US

Meati established a scientific advisory board to focus on nutrition research and scaling up

Meati appoints two CPG experts to bolster leadership as it prepares for a nationwide retail launch