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3/15/2019, 1:22 AM (Source: TeleTrader)
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Kimbal Musk to step down from Chipotle's board of directors

Fast-food company Chipotle Mexican Grill Inc.'s announced that entrepreneur Kimbal Musk (pictured), brother of Tesla Motors Inc. chief executive officer Elon Musk, won't run for the May reelection to the company's board of directors. Kimbal Musk will continue to serve on the board of Tesla Inc., SpaceX, and the Next Door American Eatery.

"Kimbal has served on the Chipotle Board of Directors since 2013, and we extend our most sincere gratitude and heartfelt appreciation for the tremendous contributions he has made to our success," Chipotle's CEO Brian Niccol stated on this occasion.

Chipotle also announced that CEO of the Center for Talent Innovation, a New York City-based think tank, Patricia Fili-Krushel and an executive vice president and chief financial officer at Starbucks Corporation Scott Maw will become new board members. Both will serve an initial term through Chipotle's 2019 annual meeting of shareholders due in May.

Breaking the News / MA