Industry News | June 13, 2002

McDonald's Seeks New CEO for Chipotle

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June 13, 2002— Reuters recently reported that McDonald's is seeking to hire a new CEO to take over its Chipotle fast-casual Mexican concept. According to Reuters, current Chipotle CEO Steven Ells will step down to allow someone with more professional and operations experience to take over day-to-day operations of the company.

Both Chipotle and McDonald's execs were quoted as saying Chipotle's rapid growth and expansion prospects require such a move. What was not said was where Ells will now fit in with company.