1. Chipotle co-CEO steps down as chain struggles to recover from sales slump

    Chipotle co-CEO steps down as chain struggles to recover from sales slump

    Chipotle co-CEO Monty Moran has stepped down from his role effective immediately. Founder Steve Ells is now the company’s sole chief executive, Chipotle said Monday.

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    1. Given the ongoing challenges facing the company, the board felt strongly that it was best for Steve to resume leadership of the company going forward.
    2. Steve founded Chipotle more than 23 years ago with a powerful vision to use great ingredients prepared skillfully by hand, but served very fast.
    3. Chipotle is based on a very simple idea: We start with great ingredients, prepare them using classic cooking techniques, and serve them in a way that allows people to get exactly what they want.
    4. It's incredibly important to me that we create an excellent dining experience in all of our restaurants. That starts with having great restaurant teams. To that end, I will evolve our Restaurateur program to ensure that even more of our best employees succeed and thrive at the company.
    5. When I started Chipotle, I knew very little about the way food was raised.
    6. I'd also like to thank Monty for his extraordinary contributions to Chipotle over the years. Monty inspired us with his vision for an enlightened people culture, and I wish him the best as he retires from the company.
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