Chipotle Executive to Step Down Following Slow Growth

Dan Industry News Release

chipotle executive
A top-level executive for Chipotle will step down early next year following a struggle to regain the restaurant chain’s footing after several food safety failures. The New York Times reports Montgomery Moran(More-ran), a co-chief executive for Chipotle, will step down from his role while the company will also be making changes to its board of directors. Chipotle founder and co-chief executive Steve Ells says the restaurant chain decided “one CEO will serve the company better.” Chipotle Shares have fallen more than 30 percent in the last year amid food safety issues, including a norovirus outbreak and two E. coli outbreaks. Sales in stores open at least a year, a key measure of a restaurant chain’s health, have not recovered as fast as the company had expected.

From the National Association of Farm Broadcasting news service.