Meati Foods has today (5 February 2024) announced the appointment of Phil Graves as its new chief financial officer, effective immediately.

Meati, founded in 2017 and based in the US, produces plant-based alternatives to meat such as cutlets and steaks, crafted from its fungi-based ingredient, MushroomRoot.

In a statement released today, the brand said that Graves will oversee the capital expenditures needed for Meati’s continued omnichannel expansion. He will leverage his experience in helping enterprises to deliver positive environmental and social impact alongside profit.

Graves joins Meati from the Wild Buffalo Co, where he served as CEO for nearly two years, helping to expand the company’s footprint and mission of environmental regeneration and food system sustainability. His previous roles include VP of corporate development at Patagonia and founder of its corporate venture fund, Tin Shed Ventures.

Tyler Huggins, CEO and co-founder of Meati Foods, said: “Phil understands how to drive a purpose-driven enterprise that also delivers on profit, and this ingenuity is invaluable for short-term successes and our long-term mission”.

Huggins added: “As Meati builds on a tremendous inaugural year establishing MushroomRoot as a new, profoundly nutritious and sustainable protein, Phil’s expertise will be a welcome addition to our executive team”.

Commenting on his appointment, Graves said that Meati’s growth over the past year has been “astonishing,” but that what he finds more impressive is the company’s “continued commitment to the sustainable development of MushroomRoot as a new food and Meati Foods as a commercial success”.

“My experience at companies like Patagonia and Wild Idea taught me that prioritising sustainable practices can boost the financial bottom line, and Meati’s MushroomRoot offers unprecedented innovation opportunities and exciting revenue possibilities,” he added. “It’s a great opportunity to improve our food system in deep and lasting ways.”

Meati has experienced significant growth over the past year, including an oversubscribed Series C raise of over $200 million and expanding into 3,000 retail locations across the US.

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