Chipotle founder Steve Ells steps down from executive chairman role

Chipotle Mexican Grill founder Steve Ells is stepping down as CEO.


Chipotle Mexican Grill founder Steve Ells is stepping down as CEO.

Steve Ells, the founder of Chipotle Mexican Grill, stepped down from his position as executive chairman on Friday, the fast-food chain announced. He also is stepping away from his position on the board of directors. 

The company’s CEO, Brian Niccol, is taking on the role of chairman of the board effective immediately, Chipotle said. 

In a statement, the restaurant chain’s lead independent director Neil Flanzraich called Ells “a visionary founder” who “revolutionized casual dining.” The restaurant chain said it’s reducing the size of its board of directors from 10 to seven.

Two directors, Matthew Paull and Paul Cappuccio, will not stand for re-election.

This story is developing. 


Source link

By Javier Manning

Javier has been in the field of content writing for almost 8 Years as he hails from the Biotechnology background. The edifying articles portray her craving towards language. His keen hobby of reading technological innovations related books or articles has sown the seed of being a well-versed editor with the current scenario of numerous industry verticals. He is one of the valuable assets to this publication. The Industry News Press has awarded him with a senior editors post based on his skillful performance to date.