Beyond Meat CEO Ethan Brown told CNBC on Tuesday that the alternative meat producer is concentrating on disrupting the food industry rather than partnering with the sector’s giants.
“My focus is entirely on growing this business” to a $40 billion company in terms of revenue, Brown said on “Squawk Box” — as the company’s shares plunged 19%, with insiders free for the first time Tuesday to sell stock after the May initial public offering.
The CEO, who said he’s not touching his shares, said he wants to build the business organically. “People have asked me, ‘Do you want to do a partnership with a larger company?’ I have no interest in that. I want to be that larger company.”