Brian Niccol named Chipotle’s new CEO

Chipotle Mexican Grill has named a new CEO as it looks for a turnaround after a series of incidents related to food safety.
The burrito chain said Brian Niccol, who was most as of late CEO at Taco Bell, will begin in the new role on 5 March.
Founder of Chipotle Steve Ells, who filled in as its CEO, will become the executive chairman.
Shares in Chipotle surged over 11% in after-hours trading in New York.
Mr. Ells established Chipotle in 1993 in Colorado and guided the organization as it extended to around 2,400 restaurants, including 37 outside the U.S.
The firm rode a surge of enthusiasm for more upmarket fast food eateries, however lurched lately as it confronted rivalry from more up to date chains and a series of incidents related to food safety that hurt the association’s notoriety.
A year ago, Chipotle likewise endured a security rupture including client installment information, while new menu increments did not lure diners as it had hoped.
Sales in 2017 came to nearly $4.5bn, in the wake of declining the earlier year, however benefits stayed far short of their past levels.
In November, Chipotle said it was looking out for a new CEO.
Mr. Niccol began at Yum! Brands’ Taco Bell in 2011, getting to be CEO of the 7,000-restaurant network in 2015.
In its declaration, Chipotle referred to Mr. Niccol’s involvement with digital technology, restaurant operations and branding.
Mr Ells said the board is confident that he will “make the bold moves needed to improve operations and take the company to the next level, all while remaining true to our purpose and the values that are essential to our customers.”

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