Chipotle (CMG) Soars As Former Taco Bell Chief Named CEO

Chipotle Mexican Grill Inc

Ells announced that he will step down from his position as the CEO of Chipotle back in November a year ago, but said he would hold the position until a new chief was appointed.

The firm rode a surge of interest in more upmarket fast food restaurants, but stumbled in recent years as it faced competition from newer chains and a series of food safety incidents that hurt the firm's reputation.

In a statement Tuesday, Niccol said he wants to dial up "Chipotle's cultural relevance" through changes in its menu and online presence.

So the company turned to Taco Bell, arguably its arch nemesis from the very beginning. The new chief executive officer will be Brian Niccol, who ran Taco Bell for three years and met sweet success courting crowds with indulgent dishes such as Doritos Locos Tacos and A.M. Crunch Wraps.

Ells is likely not the only management change, say industry experts. Brands, Inc., has been tapped to lead Chipotle Mexican Grill Inc., effective March 5.

In its announcement, Chipotle cited Mr Niccol's experience with digital technology, restaurant operations and branding. For Chipotle, Niccol is "probably the most opposite guy you could possibly find", he said.

Shares of Chipotle were up 11 percent at $279 in extended trading. "'It will be critical that chairman and founder Steve Ells gives him the autonomy to succeed'".

"Niccol was critical to Taco Bell's turnaround, but we note CMG is starting in a position of far greater weakness", Cowen analyst Andrew Charles said.

As Niccol departs, Julie Felss Masino, 47, president of Taco Bell North America, and Liz Williams, 42, president of Taco Bell International, are splitting his duties in their respective roles and will report to Yum! As president, she is responsible for ensuring Taco Bell continues to deliver same-store sales growth by driving innovation, new store development and digital and technology initiatives. Ackman, in a November appearance on CNBC, called the company "imminently fixable" and pointed to potential optimizations such as embracing drive-throughs, extending hours, adding a breakfast menu and improving online ordering. "They don't like to get you in on convenience", he said.

Related News:



Most liked

Iraqi reconstruction to cost $88 billion
The US spent $60 billion on projects aimed at reconstructing Iraq after the ouster of President Saddam Hussein in 2003. It marks something of a turnaround for Trump, who railed against the government agency during his 2016 campaign.

Laidlaw The Hero As Scotland Defeat France In Pulsating Six Nations Clash
Simon Mail previews the second weekend of the Six Nations with Scotland hosting France and Ireland taking on Italy. One of those returning to the side is Greig Laidlaw , in place of Ali Price, who struggled throughout in Cardiff.

Yoel Romero KOs Luke Rockhold at UFC 221
After two closely contested rounds, Romero exploded with an overhand left, which dropped the former middleweight champion. The Cuban fighter had previously fought for the UFC Interim Middleweight Title, losing to Whittaker at UFC 213 .

South Africa's Zuma 'negotiating over resignation as president'
The ANC's also wants to pave the way for Cyril Ramaphosa -anti-apartheid activist, tycoon, and politician- in the 2019 elections. Then on Monday, Zuma was summoned to meet with the Zulu king as the ANC met to discuss Zuma's future in Johannesburg .

Soldier, injured in Jammu terror attack, dies — Sunjwan attack updates
While no terrorist group has claimed responsibility for the attack, it is believed to be an attack by the JeM. February 3, 2019: Four soldiers got injured in a grenade attack on the CRPF Patrolling party in Tral.

Lindsey Vonn: I want to end Olympics on a high note
My main focus this year was exclusively on the Olympics and I'm very happy with how I feel physically, mentally. The gold she returned in Vancouver eight years ago was the first by an American woman in the downhill.

George W Bush takes swipe at Russia over election 'meddling'
Milken pleaded guilty to securities-law violations in 1990 and served 22 months in prison. Our democracy is only good if people trust the results.

Chinese language police use face recognition glasses to catch criminals
Naturally, there's also privacy concerns, since the technology gives fresh surveillance powers to the state. For this, all police officers at the four entrances to the station are now required to wear the spectacles.

Virat Kohli's stunning ODI form puts Bradman in the shade
This is the first time when Proteas lose the First three matches of any Bilateral series in South Africa . "It's really good. The Indian team management has a fair idea of the challenges in store in England as far as the 50-over format is concerned.

Schulz Abruptly Drops Bid to Be Merkel's Next Foreign Minister
However, the agreement is subject to the approval of the total SPD party members, over 460,000 in number, in the coming weeks. A Forsa poll had shown nearly three-quarters of Germans thought it would be wrong for Schulz to become foreign minister.

Best For Britain: "It's No Secret, Our Mission Is To Stop Brexit"
They include global banking giant Nomura and top automakers Toyota, Nissan and Honda. Japan is a big investor in Britain.

N KOREA holds military parade ahead of Winter Olympics
But privately, officials said Pence expressed concern to Moon about his more conciliatory tone toward North Korea. Pence also warned against allowing North Korea to use the Olympics for propaganda purposes.

Kissinger Says Chance For 'Pre-Emptive Attack Is Strong' On North Korea
Some nuclear experts have said the new US posture is destabilizing, and exaggerates the threat (especially from China). The Pentagon has also argued that the US must respond by developing similar weapons.

Response to AGLC halting BC wine imports
Notley's trip to BC was an image rehab trip for her, not a pipeline sales pitch for the people of Alberta. Other politicians are speaking up about the dispute.

Militants kill cop outside J&K hospital; flee away with terrorist
Jat and five others had been brought to the hospital for a routine medical checkup by policemen when the militants fired on them. Vaid said, "It's a very unfortunate incident and the terrorists managed to free one of their hardcore accomplices".