", "I am grateful to Steve for his mentorship and guidance since I joined Chipotle two years ago," said Mr. Niccol. (Think hard about Taco Bell's most famous ads through the years, which have included talking chihuahuas and...tacos.). A press release with third quarter 2020 financial results will be issued at approximately 4:10 PM Eastern time on Wednesday, October 21, 2020. "I firmly believe that with the talent we have in place, we are making smarter decisions.". Fast forward to today, and Chipotle is thriving: The company just released its latest results, which beat analyst's expectations. "Over time, we believe this can be a multibillion-dollar opportunity," says Niccol. Neil Flanzraich will continue to serve as Lead Independent Director. reportedly sent digital sales skyrocketing, Upgrading Chipotle's app and loyalty program, Adding delivery services through its mobile app and website (via DoorDash), Slowly testing and introducing new menu items, Streamlining operations to make mobile pickup orders more efficient. These are just a few strategies Niccol has brought along in an attempt to transfer the success he enjoyed at Taco Bell to Chipotle. Steve Ells, founder and executive chairman, first opened Chipotle with a single restaurant in Denver, Colorado in 1993. California Transparency In Supply Chain Act. So, about a year ago, Chipotle did the smartest thing possible: They poached Taco Bell's CEO--and made him their own. With more than 83,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry. Following McDonald's divestment, Chipotle bought back the few franchises it had sold and became 100% company-owned. Time will tell. Steve Ells, founder and former executive chairman, first opened Chipotle with a single restaurant in Denver, Colorado in 1993. Chipotle is committed to … ", Mr. Ells said, "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. On top of this, Chipotle was forced to announce a data breach that potentially exposed hundreds of thousands of customers' credit card information. U.S. Stock Futures Wobble on Stimulus Hopes, Earnings, https://www.webcaster4.com/Webcast/Page/1894/36947, http://www.prnewswire.com/news-releases/chipotle-mexican-grill-to-announce-third-quarter-2020-results-on-october-21-2020-301120844.html, Stock Futures Wobble on Stimulus Hopes, Earnings. A series of food-borne illness outbreaks, including E. coli and norovirus, had scared away customers. NEWPORT BEACH, Calif., March 6, 2020 /PRNewswire/ -- Chipotle Mexican Grill, Inc. (NYSE: CMG) announced that, on March 3, 2020, its Board of Directors appointed Brian Niccol, the Company's Chief Executive Officer, to the additional position of Chairman of the Board of Directors, effective immediately. You've taken the first step in subscribing to the Chipotle email list. Participants can join the conference by dialing 1-888-317-6003 and will be prompted to enter the code 8356997. International callers can dial 1-412-317-6061 and will be prompted to enter the code 8356997. Last year on National Avocado Day, the company gave away free guacamole with a digital purchase. With the Board composition changes announced today and following the 2020 Annual Meeting, the Chipotle Board will be comprised of seven directors, six of whom are independent. Mr. Flanzraich, speaking on behalf of the Board of Directors, said, "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. For years, Chipotle was known for a low-key marketing effort, relying mostly on old-school methods like billboards and word-of-mouth advertising. Now the question: Is there room for both companies to succeed as they compete for market share? Learn more in our Privacy Policy. But if Taco Bell starts to suffer, execs may have to figure out a way to lure their old boss back to his roots. The year was 2017, and Chipotle Mexican Grill was in dire straits. Cookies are used to support and manage your interactions with our website and process your order. By using our site, you agree to our use of cookies. Mr. Niccol added, "Matt and Paul have been vital members of the Board through a transformational time in the company's history. Chipotle Mexican Grill, Inc. (NYSE: CMG) is cultivating a better world by serving responsibly sourced, classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. An archived webcast will be available approximately one hour after the end of the call. The strategy evolved over the years, but marketing continued to seem like an afterthought. The new hires brought along fresh enthusiasm. These moves helped establish the company's solid relationship with younger customers. E-Coli Outbreaks . Consumer Cos Down As Stimulus Fears Offset Retail-Sales Data Strength -- Cons.. Chipotle wanted to turn things around too. Please click the link in that email to complete your subscription. The Centers for Disease Control and Prevention (CDC) reduced the number … With more than 83,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry. Sound familiar? If you change your mind and wish to re-subscribe to receive future updates and newsletters from Chipotle, simply enter your email address in the form below. Chipotle Announces Changes To Its Board Composition, For further information: PR Contact: Laurie Schalow, (949) 524-4035, MediaRelations@chipotle.com; IR Contact: Ashish Kohli, CFA, (949) 524-4132, Akohli@chipotle.com. Chipotle reported Q2 2020 earnings on July 22, 2020, and as a restaurant chain, Chipotle was hit hard by the lockdown throughout Q2. While Chipotle had once succeeded at building a successful brand, the company had lost its way. You should receive an email from us shortly asking you to verify your email address. For more information or to place an order online, visit WWW.CHIPOTLE.COM. Additionally, Chipotle has used special promotions to win the hearts of customers. Thanks for subscribing to Chipotle mobile updates. Additionally, Chipotle decided to move its headquarters from Denver to Newport Beach, California--right down the road from, you guessed it: "Corporations are only as good as the people you have running them," Niccol told CNBC. With more than 91,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry. We are building a sustainable model to cultivate a better world, while enhancing value for our shareholders. Store sales are on the rise, the stock price has surged, and the future looks bright. Chipotle is committed to making its food more accessible to everyone while continuing to be a brand with a demonstrated purpose as it leads the way in digital, technology and sustainable business practices. Please reply to this text to complete the process. And a new, simple pickup system for mobile orders--which basically consists of a collection of shelves with a sign--has helped further boost sales. The Board is committed to ongoing director refreshment and continues to consider new, qualified and independent directors. All of this is evidence of marketing that makes an effort to make emotional connections. Their strategic maturity and clear-eyed business experience have benefited this company tremendously.". Chipotle went public in 2007. Many saw Niccol as the driving force behind Taco Bell, a company that had suffered its own PR nightmares through the years. Modernization. In the meantime, Taco Bell, Chipotle's chief competitor, was thriving--partially due to the effective leadership of its CEO at the time, Brian Niccol. The Board today also announced that directors Matthew Paull and Paul Cappuccio will not stand for re-election to the Board at the 2020 Annual Meeting of Shareholders. The call will also be webcast live from the Company's website on the investor relations page at ir.chipotle.com and registration is available at https://www.webcaster4.com/Webcast/Page/1894/36947. NEWPORT BEACH, Calif., Sept. 1, 2020 /PRNewswire/ -- Chipotle Mexican Grill (NYSE: CMG) will host a conference call to discuss third quarter 2020 financial results on Wednesday, October 21, 2020 at 4:30 PM Eastern time. For years, Chipotle was known for a low-key marketing effort, relying mostly on old-school methods like billboards and word-of-mouth advertising. Talent. Sorry to see you go. Additionally, Niccol, who served as Taco Bell's marketing and innovation chief (and then president) before taking over as CEO, oversaw the launch of a popular mobile app and several new items to the core menu. Chipotle is committed to making its … Chipotle had over 2,600 restaurants as of December 31, 2019, in the United States, Canada, the United Kingdom, France and Germany and is the only restaurant company of its size that owns and operates all its restaurants. 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. The promotion reportedly sent digital sales skyrocketing nearly 60 percent. Chipotle is committed to making its food more accessible to everyone while continuing to be a brand with a demonstrated purpose as it leads the way in digital, technology and sustainable business practices. With more than 91,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry.

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