Economy

Chipotle Taps Taco Bell Chief As New CEO In Major Culture Shift

Chipotle Taps Taco Bell Chief As New CEO In Major Culture Shift

Following the announcement, shares of Chipotle Mexican Grill on the New York Stock exchange shot up by more than 11% in pre-market trading on February 14. He was responsible for the repositioning of Taco Bell as a lifestyle brand as well as launching the breakfast offerings the chain has. It has expanded from about 6,400 restaurants in 2015, his first year as CEO, to 6,849 restaurants and $10.1 billion in sales in 2017.

"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", outgoing CEO and founder Steve Ells said in a statement.

"I have tremendous respect for the Chipotle brand and its powerful objective", Niccol said.

Last year, Chipotle also suffered a security breach involving customer payment data, while new menu additions did not entice diners as it had hoped.

Image Zoom
Image Zoom

Shares of Denver, Colorado-based Chipotle were up 11.8 percent at $281.03 in extended trading, still less than half their $742 high set in 2015, before sales-crushing E.coli, Salmonella and norovirus outbreaks sickened hundreds of US customers. "It will be on the new CEO to really separate his management skills from the specific strategies that were implemented at Taco Bell". "This will attract customers, return the brand to growth, deliver value for shareholders and create opportunities for employees".

"Will Chipotle somehow mimic the Taco Bell menu, market positions and brand flavor?" Net income for the quarter was $43.8 million, or $1.55 per share, compared with $16 million, or $0.55 per share, the previous year.

Niccol joined Taco Bell in 2011 and served as president from 2013 to 2014.

Chipotle Mexican Grill has declared the appointment of a new chief executive as it stsrting over newly again after a series of food safety incidents. 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. Before that, he was at sister brand Pizza Hut as vice president of strategy, chief marketing officer, and general manager.

More news: Winter Olympics Predictions: Who will win the Women's Slalom? 2/13/18


  • Arrest warrant for Assange upheld by court

    Arrest warrant for Assange upheld by court

    She added: "He appears to consider himself above the normal rules of law and wants justice only if it goes in his favour". The Australian breached his bail when he sought refuge in the embassy while fighting a Swedish extradition order in 2012.
    Gunman targets YouTubers in home invasion

    Gunman targets YouTubers in home invasion

    The officers found Giles backing out of the driveway in his Lincoln sedan with a New Mexico license plate and ordered him to stop. Police say security footage shows Giles searching the home for residents while holding a gun, the Albuquerque Journal reports .
    New 2018 BMX X4: coupe-SUV revealed with sleek new look

    New 2018 BMX X4: coupe-SUV revealed with sleek new look

    Makes sense, then, that following the X3's updo for 2018, the X4 is receiving a similar freshening for the 2019 model year. Vernasca leather upholstery is standard in the United Kingdom and the red detailing you see pictured is bespoke to the X4.
  • Trump budget calls for ACA repeal, cuts to Medicare and Medicaid

    Trump budget calls for ACA repeal, cuts to Medicare and Medicaid

    Critics of President Trump's plan said it could increase taxes even for people in the Coachella Valley. The only one that's larger was the budget that we introduced a year ago .
    THQ Nordic acquires Saints Row, Metro publisher for €121 million

    THQ Nordic acquires Saints Row, Metro publisher for €121 million

    This multifaceted company will be known to gamers as the parent of Deep Silver, the publisher behind Dead Island . In addition, Deep Silver will be responsible for publishing the upcoming Shenmue III for both PS4 and PC.
    View Adds Or Mine Cryptocurrency, Salon Gives You The Choice

    View Adds Or Mine Cryptocurrency, Salon Gives You The Choice

    Cryptojacking continues to be a problem , as we've detailed in several additional articles, including one yesterday . Salon goes on to explain the mining process by saying it's borrowing the power to solve complex calculations.
  • Devin Booker out tonight for 4th straight game vs. Warriors

    Devin Booker out tonight for 4th straight game vs. Warriors

    Prior to Golden State's current three-game winning streak, the Dubs were in the midst of their worst stretch of the season. You know what they say; sometimes it takes a teammate to get the message across. "But it's up to us to change that".
    Luke Wilson, pro golfer Bill Haas involved in crash that killed one

    Luke Wilson, pro golfer Bill Haas involved in crash that killed one

    The 2011 FedEx Cup champion was set to return to action on Thursday in the Genesis Open at L.A.'s Riviera Country Club. Luke Wilson, 46, has been involved in a fatal auto accident in California, police have confirmed.
    New Mercedes-AMG G63 arrives with 577bhp

    New Mercedes-AMG G63 arrives with 577bhp

    Off-road, it delivers 241mm of ground clearance, while adjustable damping will allow drivers to tailor the ride to their tastes. All the differential locks can be engaged on the move, and Mercedes-AMG says the system is quicker to engage than before.
  • Woman climbs into X-ray machine during security check

    Woman climbs into X-ray machine during security check

    The video shows woman's silhouette inside the machine and her climbing off the machine once the checking was done. Staff were reportedly so stunned they didn't stop her when she collected her bags and bolted to get her train.
    AJ Styles Says Ronda Rousey Could Be A WWE Hall of Famer

    AJ Styles Says Ronda Rousey Could Be A WWE Hall of Famer

    Bray Wyatt , "Woken" Matt Hardy , and Apollo Crews (with Titus O'Neil) by pinning Bray Wyatt following a double team powerbomb. Rollins joined the other four in Raw's main event as all five men battled for the chamber opportunity.
    United States  drone destroys Russian-made tank in Syria

    United States drone destroys Russian-made tank in Syria

    This latest incident has led experts to speculate about whether there is an Iranian-Israeli war on the horizon. The official, however, could not say how many of those who died were Russians.