Categories
Fast Food News Now Trending

Chipotle CEO Steps Down, Says Restaurant Needs To ‘Execute Better’

Photo courtesy of Bloomberg

The once widely beloved Chipotle Mexican(ish) Grill has taken quite a hit over the last two years, and it has now cost its CEO his job.

Steve Ells founded the company back in 1993, and built it to be one of the most popular chain restaurants across the U.S. Though with several E. Coli outbreaks, coupled with a drop in investor confidence, Ells felt a change needed to be made, according to Bloomberg.

“Simply put, we need to execute better to ensure our future success,” Ells said in a statement.

Ells will take the role of executive chairman, as Chipotle immediately started its search for a new CEO to grab the reins and steer them back into the consumer’s favor.

The move seems to have already sparked investors’ interest, as Chipotle’s stock rose by 5.4 percent after the move was announced.

Chipotle has been suffering with PR nightmares over the recent years, and probably needed a big shakeup, and this was probably the biggest kind that could have happened.

Categories
Fast Food

Chipotle’s Founder Directly Addresses The Insane Amount Of Recent Outbreaks

Steve-Ells-Today-Show

It’s been a rough couple of months for Chipotle. With a recent norovirus outbreak in Boston causing 120 students to become sick, as well as E. coli linked to West Coast locations, the chain has seen better days. Now, founder Steve Ells finally speaks out about the recent illnesses linked to the fast-casual brand.

In a recent interview with Matt Lauer on the Today Show, Ells speaks about the recent health scares linked to his restaurants and how Chipotle is working to rectify this.

Ells mentions that the company had performed thousands of tests for E. coli on the ingredients they used for their restaurants and they all had come back negative. There doesn’t seem to be a solid answer as to why folks are getting sick.

We definitely feel for them. Earlier this year, the fast-casual chain got rid of their popular pork carnitas because they were from a supplier that didn’t meet Chipotle’s health standards. Only a few months ago did they finally find a supplier they were happy with.

Kind of thought they caught a break after they sorted out that carnitas crisis.

While Chipotle has been working hard to figure out why customers are getting sick, the company’s stock has dropped more than 25 percent since October.

Check out the interview below.

Categories
Fast Food

Chipotle Founder Developing Asian Fast-Casual Concept?

Steve Ells, CEO and Founder of the wildly successful Chipotle Mexican Grill chain has been anything but silent and behind the scenes lately. With the launch the NBC show America’s Next Great Restaurant starring a host of celebrity personalities alongside Ells is one of four celebrity personalities and investors who will decide which winning restaurant idea they will put their money into.

Apart from the show, an NRN article has revealed Ells possible ideas for opening an Asian fast-casual restaurant utilizing similar pricing, ingredient integrity, and general modeling that has made Chipotle so successful in the past.