Founder and CEO Steve Ells steps down and begins a search for a new leader.

The founder and CEO of Chipotle, Steve Ells, will be stepping down from his role. According to a recent Fast Casual article, Ells will become the executive chairman after the company completes its search for a new CEO. A search committee has been formed with Directors Robin Hickenlooper and Ali Namvar in addition to Ells to find the right person with turnaround expertise.

"Simply put, we need to execute better to ensure our future success. The board and I are committed to bringing in an experienced leader with a passion for driving excellence across every aspect of our business, including the customer experience, operations, marketing, technology, food safety and training," said Ells.

This change will give Ells more time to focus on what he believes are his strengths—leading innovation for how Chipotle sources and prepares food. The new CEO will need to work hard to gain back customer trust after the challenges that the chain has faced in the last few years.

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