The search is on for a new Chipotle (CMG - Get Report) CEO. Trading of company's stock was briefly halted this morning ahead of the news that Steve Ells would be stepping down from the top job.

TheStreet Editor Brian Sozzi shared some of his thoughts in the moments after the news broke. He looked back at Ells' rocky tenure leading Chipotle.

Sozzi also pointed Ells failure to groom a successor to immediately step into the role.

Ells is a chef who started the company in 1993 as a single restaurant before leading it on a path of international growth. He will remain with Chipotle as executive chairman.

Just a few weeks ago, TheStreet spoke with Bill Ackman, who expressed confidence in Ells

Watch More with TheStreet:

Don't miss the best videos of the week. Put Wall Street on Rewind and sign up for our weekly newsletter.