DENVER, Feb. 13, 2018 /PRNewswire/ -- Chipotle Mexican
Grill (NYSE: CMG) today announced that its Board of Directors has
appointed Brian Niccol as chief
executive officer and a member of the Board, effective March 5, 2018. Niccol most recently served as CEO
of Yum! Brands' Taco Bell Division, where he was responsible for
the highly successful turnaround of the business.
Chipotle Chairman, CEO and Founder Steve
Ells, who will become executive chairman, said, "Brian is a
proven world-class executive, who will bring fresh energy and
leadership to drive excellence across every aspect of our business.
His expertise in digital technologies, restaurant operations and
branding make him a perfect fit for Chipotle as we seek to enhance
our customer experience, drive sales growth and make our brand more
relevant. The Board is confident that Brian's passion and skillset
ideally position him to 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."
Niccol said, "I am very excited to be joining Chipotle at this
pivotal time in its history. I have tremendous respect for the
Chipotle brand and its powerful purpose. At Chipotle's core is
delicious food, which I will look to pair up with consistently
great customer experiences. I will also focus on dialing up
Chipotle's cultural relevance through innovation in menu and
digital communications. This will attract customers, return the
brand to growth, deliver value for shareholders and create
opportunities for employees."
Brian Niccol Bio
Prior to joining Chipotle, Brian
Niccol was at Taco Bell from 2011 and served as CEO from
January, 2015 and president from 2013 to 2014. Under his
leadership, he successfully repositioned Taco Bell as a lifestyle
brand and successfully launched numerous product initiatives,
including the new breakfast daypart, the fastest growing daypart in
the industry. He transformed Taco Bell into a social media leader
and revolutionized its digital approach through mobile ordering and
payment across their 7,000 restaurants. He also created a
people-centric innovation culture that has been recognized
throughout the industry.
Prior to Taco Bell, Niccol held leadership roles at Pizza Hut,
including vice president of strategy, chief marketing officer, and
general manager. He led the brand strategy and positioning that
achieved record transactions and market share. Additionally, his
innovation in digital with on-line and mobile app ordering was
industry leading during his time in the business.
Niccol began his career at Procter & Gamble where he spent
10 years in various brand management positions. He holds an
undergraduate degree from Miami
University (OH) and an MBA from The University of Chicago Booth School of Business.
Niccol serves on the Board of Governors for the Boys & Girls
Club of America and on the Board of Directors of Harley-Davidson,
Inc.
ABOUT CHIPOTLE
Steve Ells, founder, chairman and
CEO, started Chipotle with the idea that food served fast did not
have to be a typical fast food experience. Today, Chipotle
continues to offer a focused menu of burritos, tacos, burrito
bowls, and salads made from fresh, high-quality raw ingredients,
prepared using classic cooking methods and served in an interactive
style allowing people to get exactly what they want. Chipotle seeks
out extraordinary ingredients that are not only fresh, but that are
raised responsibly, with respect for the animals, land, and people
who produce them. Chipotle prepares its food using real, wholesome
ingredients, without the use of added colors, flavors or other
additives typically found in fast food. Chipotle opened with a
single restaurant in Denver in
1993 and now operates more than 2,400 restaurants. For more
information, visit chipotle.com.
FORWARD-LOOKING STATEMENTS
Certain statements in this press release, including statements
regarding possible improvements or achievements in Chipotle's
business, are forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. We use words and phrases
such as "will", "seek", "confident that", and similar terms and
phrases, including references to assumptions, to identify
forward-looking statements. The forward-looking statements in this
press release are based on information available to us as of the
date any such statements are made and we assume no obligation to
update these forward-looking statements. These statements are
subject to risks and uncertainties that could cause actual results
to differ materially from those described in the statements. These
risks and uncertainties include, but are not limited to, the
following: the uncertainty of our ability to achieve expected
levels of comparable restaurant sales due to factors such as
changes in consumers' perceptions of our brand, including as
a result of actual or rumored food-borne illness incidents or other
negative publicity, the impact of competition, including from
sources outside the restaurant industry, decreased overall consumer
spending, or our possible inability to increase menu prices or
realize the benefits of menu price increases; the risk of
food-borne illnesses and other health concerns about our food or
dining out generally; factors that could affect our ability to
achieve and manage our planned expansion, such as the availability
of a sufficient number of suitable new restaurant sites and the
availability of qualified employees; the performance of new
restaurants and their impact on existing restaurant sales; the
potential for increased labor costs or difficulty training and
retaining qualified employees, including as a result of market
pressures, enhanced food safety procedures in our restaurants, or
new regulatory requirements; increases in the cost of food
ingredients and other key supplies or higher food costs due to
changes in supply chain protocols; risks related to our marketing
and advertising strategies, which may not be successful and may
expose us to liabilities; supply chain risks; risks relating
to our expansion into new markets, including outside the U.S., or
non-traditional restaurant sites; the impact of federal, state or
local government regulations relating to our employees, our
restaurant design, or the sale of food or alcoholic beverages;
risks associated with our Food With Integrity philosophy, including
supply shortages and potential liabilities from advertising claims
and other marketing activities related to Food With Integrity;
security risks associated with the acceptance of electronic payment
cards or electronic storage and processing of confidential customer
or employee information; risks relating to litigation, including
possible governmental actions related to food-borne illness
incidents, as well as class action litigation regarding employment
laws, advertising claims or other matters; risks relating to our
insurance coverage and self-insurance; risks regarding our ability
to protect our brand and reputation; risks associated with our
reliance on certain information technology systems; risks related
to our ability to effectively manage our growth; risks associated
with our pending leadership change and our dependence on key
personnel; and other risk factors described from time to time in
our SEC reports, including our most recent annual report on Form
10-K and subsequent quarterly reports on Form 10-Q, all of which
are available on the investor relations page of our website at
ir.Chipotle.com.
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SOURCE Chipotle Mexican Grill