Chipotle Mexican Grill Inc. founder Steve Ells agreed to step down as chief executive officer after struggling to pull out of a two-year slump, a shake-up that sent shares of the burrito chain surging.
And part of the official press release from Chipotle:
Chipotle Mexican Grill (NYSE: CMG) today announced that Steve Ells, chairman and CEO – and the founder of the company in 1993 – will become executive chairman following the completion of a search to identify a new CEO. The Board has formed a search committee comprised of Directors Robin Hickenlooper and Ali Namvar, as well as Ells, to identify a new leader with demonstrated turnaround expertise to help address the challenges facing the company, improve execution, build customer trust, and drive sales.
Submitted November 29, 2017 at 08:43AM by ChocolateTsar http://ift.tt/2k9g2ve
