Chipotle founder Steve Ells steps down as board chairman

Chipotle board will have 7 directors

Chipotle Mexican Grill announced Friday that founder Steve Ells has stepped down as executive chairman and director, relinquishing the position to the company’s CEO, Brian Niccol.

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"I am grateful to Steve for his mentorship and guidance since I joined Chipotle two years ago," Niccol said in a statement. "Our key strategies are working, and I am proud of the results the team has achieved.”

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The Chipotle board will have seven directors, six of whom are independent, due to the changes.

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