Nov 29, 2017

Chipotle founder to step down as CEO amid food-safety struggles

Chipotle founder Steve Ells will step down as CEO. Photo: Stephen Brashear / AP

Chipotle announced Wednesday that Steve Ells, who founded the burrito chain in 1993, will step down as CEO once they find a new leader to replace him, per CNBC. Ells will become executive chairman once the transition is complete.

Why it matters: The shakeup comes amid Chipotle's continued struggle to bounce back from repeated food-safety issues, from an E. coli crisis in 2015 to a norovirus outbreak earlier this year. The restaurant chain has tried several times restore its reputation, with new advertising campaigns and the introduction of queso to its menu. Now they're hoping a new leader can pull the chain out of its 2-year slump.

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