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Chipotle Founder Exits Company Battered By Food Safety Disasters

November 29, 2017: 12:00 AM EST
Chipotle Mexican Grill founder and CEO Steve Ells [left] has resigned under pressure from investors unhappy with the failure to turn around the troubled chain over the last two years. Chipotle’s sales have never fully recovered from a string of E. coli, salmonella and norovirus outbreaks that sickened hundreds of U.S. customers in 2015. Chipotle shares, down more than 20 percent this year, rose more than five percent to $301.99 with the news of Ells’ departure. Prior to the food safety problems, the stock had reached a high of $742. [Image Credit: © Cornell University ]
Lisa Baertlein, "Chipotle Founder Out as CEO as Investor Patience Expires", Reuters, November 29, 2017, © Reuters
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