This is part of a series of stories that comprise TheStreet's Blue Chip Studio, which will illuminate issues related to corporate board performance, activism, dealmakers and personalities revealed by analysis of data generated by BoardEx, a business unit of TheStreet.
Four members of Chipotle Mexican Grill's (CMG) 12-person board will not run for reelection at the fast food chain's annual meeting on May 25. The decision comes just three months after activist investor Bill Ackman pressured the company to add four new directors, including one from Ackman's hedge fund Pershing Square Capital Management.
Directors John Charlesworth, Patrick Flynn, Darlene Friedman and Stephen Gillett have determined that they will not stand for reelection this year. Their decisions are "not related any disagreement with Chipotle or Chipotle's operations, policies or practices," according to a filing with the U.S. Securities and Exchange Commission. The four directors will continue to serve through the date of the annual meeting.
Three of these four directors are overtenured, having served for roughly two decades apiece, according to BoardEx data. BoardEx is a business unit of TheStreet.
A director since 1999, Charlesworth is currently the sole owner/member of Hunt Business Enterprises LLC and EZ Street LLC, operators of car care facilities and commercial properties, according to an SEC filing. He previously spent 26 years working with McDonald's (MCD) , which was Chipotle's majority shareholder before divesting its stake in 2006.
Flynn joined the board in 1998, and worked with McDonald's for 39 years before retiring in 2001. Friedman has been a director since 1995, when she retired after 19 years in management positions at pharmaceutical company Syntex Corp. Gillett, who has been with the board for just two years, recently became a senior executive leader at Alphabet's (GOOGL) innovation lab Google X.