Chipotle Mexican Grill announced on Monday that its board of directors has named company founder Steve Ells the company’s sole chief executive officer. Ells will also remain chairman of Chipotle’s board. The company’s board also announced that they are eliminated the dual CEO structure that has headed the company for nearly eight years. Monty Moran, who has split CEO duties with Ells since 2009, has stepped down from the co-CEO role and from his board seat effective immediately and will retire from Chipotle in 2017.
Chipotle has struggled to regains its reputation in the wake of the food safety food scandal that has rocked its sales. “Steve founded Chipotle more than 23 years ago with a powerful vision to use great ingredients prepared skillfully by hand, but served very fast,” says Neil Flanzraich, lead director of Chipotle’s board. “This approach has proven to be a very successful formula, but as the company grew, operations became more complicated and less consistent. Given the ongoing challenges facing the company, the board felt strongly that it was best for Steve to resume leadership of the company going forward. This will ensure that his high standards for the guest experience and his unyielding commitment to the company’s mission are top priorities.”
Ells, a classically trained chef, started Chipotle in 1993 with a small loan from his father. Chipotle has since grown into one of the nation’s largest restaurant companies, with more than 2,200 locations in five countries. Ells served as chairman and CEO from 1993 until 2009 when he became co-CEO, a title he shared with Moran. The company went public in 2006.
As chairman and CEO, Ells will directly oversee restaurant operations, focusing on ensuring the best guest experience, removing unnecessary complexity for its operations, strategic initiatives, and innovation projects at the company.
