Impossible Foods founder Pat Brown will step down as chief executive and hand over the role to Peter McGuinness, the former chief operating officer of Greek-yogurt maker Chobani, as the alternative meat producer expands rapidly and launches new products.
Brown, who founded the plant-based burger maker in 2011, will remain a director and take on the title “Chief Visionary Officer” to focus on research and technology and new initiatives, the company told Reuters.
McGuinness will be tasked with steering the company at a time when the plant-meat sector faces cooling demand after an investment frenzy in the past few years and launches by major fast food chains Burger King and McDonald’s.
McGuinness, who takes over on April 4, plans to announce new launches and make the company’s products available at more retail stores.
“We just need more people to try it,” McGuinness said in an interview, adding that he is “very bullish” about the plant-meat sector.
“We have more work to do on the distribution side … We could easily triple, if not, quadruple the distribution points (in the United States) at retail.”