Shares of Chipotle Rally Following Announcement of New CEO
Shares of Chipotle Rally Following Announcement of New CEO
Chipotle was founded by outgoing CEO Steve Ells in Colorado in 1993
15 February, 2018, 14:15
Niccol was president of Taco Bell from 2013 to 2014 before becoming CEO in 2015.
Stephen Anderson, an analyst at Maxim Group Equity Research, said Niccol checked all the boxes for experience in brand leadership, menu innovation, technology and global franchise development.
Part of the success is attributed to mastering mobile ordering and launching breakfast, and Niccol in a statement referred to using menu innovations and digital communications at Chipotle.
In 2011, Yum Brands said in its annual report that Taco Bell was "under-performing" in the USA, with same-store sales down 1% and profit down 12%.
The company said Julie FelssMasino, President, Taco Bell North America, and Liz Williams, President, Taco Bell International, will assume leadership of the Taco Bell Division in their respective roles.
Management execution under Niccol will be a challenge, but pulling an insider from one of Chipotle's main competitors, a competitor that has been performing well, is interesting. Niccol was able to usher in a period of impressive growth at Taco Bell after joining the brand in 2011.
But, that's no easy task.
Lucknow University advises students not to come on V-Day
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A norovirus outbreak in late 2015 sickened more than 300 Chipotle customers across 14 states, hospitalizing 22. "Chipotle executives have acknowledged neglecting basic operational details, like keeping restaurants clean and up-to-date, while they focused on food safety", Jargon continues.
Menu price hikes helped bolster Chipotle's sales in the fourth quarter, despite slowing foot traffic. "Mr. Niccol has a mountain to climb and his appointment will not automatically solve all of the company's issues".
"The new CEO inherits a mass of problems", Saunders said.
"From the beginning of the search for a new CEO, we noted that we wanted an experienced leader with a passion for driving excellence across every aspect of our business, and that was a top consideration for the search committee throughout the process". However, some analysts have anxious that Ells will not be able to distance himself from the post and will cause conflict with any incoming CEO.
Ells said in November he would step aside after failing for two years to rescue the burrito chain's sales and reputation, and he told investors recently he would not get in the way of a new CEO. In 2009, he shared the role with Monty Moran.
The massive pop wasn't enough to turn Chipotle green for the year, month or even week.
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Canada and Switzerland will now compete for the gold medal in mixed doubles curling Tuesday (6:05 a.m. The 2016 World Mixed Curling Champion uploaded the videos to her almost 10,000 followers this year.
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Iranian President to begin his 3-day India visit today
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O'Neill said Sinn Fein had reached an accommodation with the leadership of the DUP, adding they had failed to close a deal. I respect the Irish language and those who speak it but in a shared society this can not be a one-way street.