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Ells steps down as Chipotle revamps board

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March 6, 2020

Brian Niccol, Chipotle Mexican Grill Inc.'s CEO, is now also chairman of the board of directors for the fast casual brand.

Chipotle Founder Steve Ells has stepped down from his role of executive chairman as well as the role of director, according to a press release. Neil Flanzraich remains as lead independent director and directors Matthew Paull and Paul Cappuccio will not stand for re-election at the next shareholder meeting, according to the release.

"Steve Ells is a visionary founder who not only created a new and successful brand, but also revolutionized casual dining in 1993 with the introduction of Chipotle and the concept of food with integrity. We are grateful for all that Steve has done for Chipotle, including helping build and guide the current leadership team, and for his service as executive chairman during the last two years," said Flanzraich in the release.

In return, Ells noted Niccol's skills for his new role.

"Brian has proven that he is absolutely the right person to lead Chipotle forward and I've never been more confident about the future of this great company," he said in the release.