Chipotle is looking for a new CEO to help it recover from a series of food safety scares and slumping sales and return to its heyday, when consumers flocked to its casual Mexican dining restaurants for quality ingredients at a reasonable price. Founder Steve Ells, who currently serves as chairman and CEO, will transition to executive chairman once someone new is in place at the top post. Ells started Chipotle Mexican Grill Inc. with a single restaurant in Denver in 1993. But recent years have seen Chipotle struggle, and it reported disappointing third-quarter results last month. Chipotle said Wednesday that the CEO search committee, which includes Ells, is looking for someone with turnaround expertise in part to help address the challenges facing the company, build customer trust and improve sales.

Source: ABC News November 29, 2017 13:24 UTC