How Taco Bell magic will clean up Chipotle
The incoming CEO of Chipotle Mexican Grill (NYSE:CMG), Brian Niccol, will put the restaurant chain back on track after a two year food-safety lapse, Jon Taffer, the host of Spike TV’s “Bar Rescue,†told FOX Business.
Niccol, who previously ran Taco Bell, will take the reins of Chipotle on March 5. He will replace co-founder and executive chairman Steve Ells, who stepped down as CEO last year after food safety scares forced some of Chipotle’s restaurants to shut down temporarily.
“He has been a master communicator with Taco Bell on social media, and he is very smart in branding and communication,†Taffer said in a FOX Business interview with Stuart Varney on “Varney & Co.â€
Taffer predicted that Niccols will incorporate new menu items including breakfast, restore confidence in the brand and attract more customers. He can also help Chipotle reorganize the corporate structure, according to Taffer. “I think he’s going to turn it around,†said Taffer, which he helps struggling bar owners do on “Bar Rescue.†Chipotle stock is down 60% since its high in 2015.