News – “Chipotle CEO Steps Down, Says Restaurant Needs To ‘Execute Better'”

foodbeast.comThe once widely beloved Chipotle Mexican(ish) Grill has taken quite a hit over the last two years, and it has now cost its CEO his job.

 Steve Ells founded the company back in 1993, and built it to be one of the most popular chain restaurants across the U.S. Though with several E. Coli outbreaks, coupled with a drop in investor confidence, Ells felt a change needed to be made, according to Bloomberg.
 

“Simply put, we need to execute better to ensure our future success,” Ells said in a statement.

 
 Ells will take the role of executive chairman, as Chipotle immediately started its search for a new CEO to grab the reins and steer them back into the consumer’s favor.
 
 The move seems to have already sparked investors’ interest, as Chipotle’s stock rose by 5.4 percent after the move was announced.

What a year they’ve been having huh? woof

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s