For Chipotle, The Search For A New CEO Begins

Share

Chipotle CEO Steve Ells is stepping down amid food safety scandals, low sales, and, presumably, charging a premium for guacamole.

There's also been a flurry of restaurant mergers this year that have pushed up the prices of most of Chipotle's rivals.

"I am incredibly proud of Chipotle and our people - and grateful to our loyal customers - and while we are continuing to make progress, it is clear that we need to move faster to make improvements", said Ells.

Arizona State to interview Herm Edwards
The program's coaching job is open after athletic director Ray Anderson fired coach Todd Graham on Sunday following a 7-5 season. In eight National Football League seasons Edwards posted a record of 54-74, leading his teams to four playoff appearances.

The company said Wednesday, Nov. 29, 2017, that Ells will step down from the CEO position as soon as it finds a replacement. He will be relegated to the role of executive chairman upon the completion of a search to replace him as CEO, the company said in a press release.

The departing CEO will now become executive chairman of the board. Since the start of the year, shares of Chipotle have sunk over 24%, including a 7.28% decline in the last 12-weeks.

The search committee at Chipotle tasked with finding a new CEO includes director Robin Hickenlooper, departing CEO Steve Ells and Pershing Square's Ali Namvar.

The Pentagon is Downplaying Number of US Troops in Iraq and Syria
It is unclear if the DMDC's reports for all the countries listed was fully accurate since there are some glaring discrepancies. The Defense Department has released conflicting numbers about the number of USA troops deployed overseas.

Added Ells, "Bringing in a new CEO is the right thing to do for all our stakeholders".

"We remain as excited as ever about the future of the company", the firm told Bloomberg News. His firm, Pershing Square Capital Management, took a 10 percent stake in the restaurant chain previous year. The burrito chain said last month that it will continue to develop new menu items, including frozen margaritas and salads; retrain workers to better serve customers; and slow the number of new stores it opens next year to better focus on already opened restaurants. "We are committed to recruiting a world-class CEO for this incredible opportunity". But the company now has more than 2,350 restaurants-and hard problems.

Asus launches Zenfone Max Plus (M1) with dual cameras, 18:9 FullHD
Price is to be determined, but we do know that the ZenFone Max Plus comes in Black Wave, Azure-Silvery and Sunny-Golden finishes. It includes a large battery of 4,130mAh capacity that promises a 3G talk time of 26 hours and standby time of 26 days.

Share