DENVER, May 23, 2018 /PRNewswire/ -- Chipotle
Mexican Grill (NYSE: CMG) announced today its plans to
relocate its headquarters, currently in Denver, Colorado, to Newport Beach, California. Functions within
the current Denver office will
either be consolidated in Chipotle's existing office in
Columbus, Ohio or moved to the new
headquarters in Newport Beach.
"We have a tremendous opportunity at Chipotle to shape the
future of our organization and drive growth through our new
strategy," said Brian Niccol, chief
executive officer at Chipotle. "In order to align the structure
around our strategic priorities, we are transforming our culture
and building world-class teams to revitalize the brand and enable
our long-term success," Niccol added.
"We'll always be proud of our Denver roots where we opened our first
restaurant 25 years ago. The consolidation of offices and the move
to California will help us drive
sustainable growth while continuing to position us well in the
competition for top talent," said Niccol.
Over the next six months, Chipotle will transition its
Denver and New York office functions to Newport Beach and Columbus. Newport
Beach will serve as the headquarters for the company's
operations, business development, marketing, communications,
finance, supply chain, food safety, technology, HR and other
corporate functions. The support functions will be located in the
Shared Services Center in Columbus. Following this transition, Chipotle
will close its Denver and
New York City offices.
This move will affect approximately 400 employees in
Denver and New York in Q4 2018, with some being offered
relocation and retention packages. The 70,000 field operations and
restaurant employees are not part of this reorganization.
Shared Services Center in Columbus,
Ohio
By consolidating shared services into the existing Columbus office, Chipotle will grow its
workforce there from 100 to over 250 employees. Consolidating in
Columbus provides access to
high-quality talent and offers cost advantages to support
Chipotle's standardized business operations.
Chipotle chief finance officer Jack
Hartung said, "The standardization and consolidation of
systems and processes into one location will greatly benefit our
company and our shareholders. Through technology and the
consolidation of talent, we'll create a world class Shared Services
Center with increased productivity and quality services supporting
our employees and our restaurants."
Chipotle will review in more detail the organizational changes
around this relocation and the impact on its special investor call
scheduled for June 27, 2018 at
4:15pm ET.
ABOUT CHIPOTLE
Steve Ells, founder and executive
chairman, 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 and 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.
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SOURCE Chipotle Mexican Grill