Chipotle seeking turnover expert
The co-founder Ells stated “He needs a turnover expert for his company Chipotle Mexican Grill Inc” on Wednesday.He also stated ” He will step down to Chief executive to overcome the pressure of investors after failing to turn around”. Therefor the Chipotle looking for the new executive who can recover the from a series of food safety scares and slumping sales.
History of Chipotle Mexical Grill Inc
The Company Chipotle started its business on 1993 in Denver. The idea of the restaurant was simple: show that food served fast didn’t have to be a “fast-food” experience.Chipotle has more than 2,350 restaurants now.But in recent years the company is in struggle. They are trying hard to convince the customers since 2015 that their foods are safe when its sales plunged after an E. coli outbreak.
Now Chipotle committed to bring changes in its service and they will try hard to win back the customers.
“[W]hile we are continuing to make progress, it is clear that we need to move faster to make improvements,” Ells said in a statement.
“Bringing in a new CEO is the right thing to do for all our stakeholders. It will allow me to focus on my strengths, which include bringing innovation to the way we source and prepare our food..”
Chipotle’s shares, which have more than halved in value since the first reports of a major e-coli outbreak linked to its restaurants in October 2015, rose 4.7 percent to $299.38 in premarket trading on Wednesday.
Chipotle said it had formed a search committee comprised of directors Robin Hickenlooper and Pershing Square’s Namvar, as well as Ells, to identify a new CEO.
They believe in the faster improvements of their service by this.