Wednesday, November 29, 2017

Chipotle Founder to Step Down as CEO

Founder Steve Ells was a pioneer of a now-ubiquitous category of dining chains that market themselves as a step up from fast food.

     The founder of Chipotle Mexican Grill will step down as chief executive. He started the company back in Denver, Colorado 24 years ago and now you cannot even walk down the street without even seeing one. He revolutionized the fast food industry. You can still get a good fast meal, but you don't have to deal with tips. He challenged major chains such as McDonalds with all natural/organic ingredients. Leading to a lot of fast food chains to change a lot of their processed foods. 

     Lately, Chipotle has been dealing with a lot of criticism after the E.coli, salmonella, and norovirus outbreak. A lot of customers have not returned to the Chipotle chain due to the fear of the viruses. Some investors are also worried due to Chipotle being replicated by others. Chipotle is having a hard time staying in the spotlight. Chipotle does not have certain reward systems compared to other fast food establishment like Starbucks. Corporate employees such as CEO's are also stepping down from their position to give the companies opportunity to grow financially through stocks and so other employees grow as well. 

https://www.wsj.com/articles/chipotle-founder-to-step-down-as-ceo-1511962551

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