Chipotle CEO Steve Ells Steps Down
Steve Ells has stepped down from his position as CEO at Chipotle Mexican Grill after a 25-year run with the fast-casual chain. Nation’s Restaurant News reports that Ells, who founded the Denver-based chain in 1993, will remain on board as executive chairman while Chipotle actively searches for a new CEO.
“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,” Ells said in a statement. “Simply put, we need to execute better to ensure our future success. The board and I are committed to bringing in an experienced leader with a passion for driving excellence across every aspect of our business.”
The move comes after a yearslong battle with loss in consumer trust following multiple food poisoning outbreaks in 2015. Prior to the scare, Chipotle’s stock price peaked around $750, but as of November 29 shares were valued just above $290.
With a new CEO on the horizon, could Chipotle bounce back from its series of mishaps once and for all? Here are 12 more ways the Tex-Mex giant is trying to regain customer trust.