TL;DR
Monty Moran, co-CEO of Chipotle Mexican Grill Inc., has resigned from his position and is retiring from the company's board of directors. Steve Ells, the founder of Chipotle, will be taking over as CEO.
Co-CEO at Chipotle Mexican Grill Inc., Monty Moran, has stepped down from his position, according to a recent Nation’s Restaurant News article . This announcement follows a tough year for the brand with poor sales and food safety outbreaks in 2015. Moran is also retiring from the company’s board of directors and Steve Ells, the original founder of the brand, will be taking over as CEO.
“Steve founded Chipotle more than 23 years ago with a powerful vision to use great ingredients prepared skillfully by hand, but served very fast,” Neil Flanzraich, lead director of Chipotle’s board, said in a statement. “This approach has proven to be a very successful formula, but as the company grew, operations became more complicated and less consistent
Chipotle’s same store sales have not yet recovered from its food safety issues, despite its best efforts to give away free burritos and introduce a loyalty program.
“Monty inspired us with his vision for an enlightened people culture, and I wish him the best as he retires from the company,” said Ells in a statement.
In this story
This story was originally published in 1851 Franchise on December 13, 2016. Burnaze summarizes and links to the original reporting.
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