After a rough 2017 plagued with renewed food safety concerns, Chipotle has stunned everyone by stealing their new CEO, Brian Niccol, away from Taco Bell.
Chipotle to name Taco Bell chief Brian Niccol CEO, as struggling burrito chain seeks to rebound from food-safety issues https://t.co/9yViRG7MZs
— The Wall Street Journal (@WSJ) February 13, 2018
The Wall Street Journal reports that Niccol will take over the reins at Chipotle in March. The news came shortly after YUM! Brands sent out a press release that Niccol was stepping down from his position at the Bell, SeekingAlpha reports.
Niccol is essentially a superstar in the QSR world, especially with how he’s grown Taco Bell into the youthful, trendy brand that it is today. He’ll look to do the same at Chipotle, banking on social media and innovation to right the ship.
At the same time, food safety will be one of Niccol’s paramount concerns when he takes the Chipotle helm on March 5th. While most fast food chains are known for clean, safe food, Chipotle has been anything but, with multiple outbreaks plaguing them over the past few years. Niccol will be looking to his experience at Taco Bell to help cure some of those food poisoning concerns.
The stock markets had closed when the news initially broke, but Google Finance is already projecting Chipotle’s stock price to jump by at least 30 points as a result of the Wall Street Journal piece.