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2/14/2018, 4:41 AM (Source: TeleTrader)
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Chipotle names Taco Bell's Brian Niccol as CEO

Chipotle Mexican Grill, Inc. announced that its board of directors appointed Brian Niccol chief executive officer and a member of the board. The company said the decision will be effective as of March 5. Niccol held leadership roles at Pizza Hut before joining Taco Bell, where he served as CEO from January 2015.

The restaurant chain revealed in November that its founder and CEO, Steve Ells would be stepping down. "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, all while remaining true to our purpose and the values that are essential to our customers," Ells said of his successor.

Following the announcement, Chipotle's shares soared 11.71% in after-hours trading.

Breaking the News / DJ