Chipotle (CMG) - Get Chipotle Mexican Grill, Inc. Report is reportedly searching for a new CEO as Steve Ells prepares to step down. Ells will serve as executive chairman of the company when a replacement is found.
When TheStreets' Ron Orol sat down with embattled activist investor Bill Ackman earlier this month, Ackman expressed his support for Ells.
Ackman says he still thinks Chipotle (CMG) - Get Chipotle Mexican Grill, Inc. Report CEO Steve Ells is an "outstanding visionary," even with the struggles faced by the chain. "I think he's an outstanding visionary CEO who's has done a great job building the concept, the brand," Ackman said in an interview with the TheStreet. Chipotle is still trying to repair its image following a string of bad news in recent months, including rodent sightings at one location and sick customers at another.
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Editors' pick: Originally published Nov. 2.