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Chipotle Shares Rise Amid Board Uncertainty

Two Chipotle investors filed a shareholder resolution to augment the composition of Chipotle's board.
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Shares of Chipotle (CMG) - Get Chipotle Mexican Grill, Inc. Report were higher Thursday after two union-affiliated shareholders filed a shareholder resolution Tuesday looking to take board leadership from the company's founder and chairman Steve Ells. The proposal is non-binding but looks to take power by instituting an independant chair on the board. The pressure for changes at the struggling company has been mounting after activist investor Bill Ackman revealed a 9.9% stake in the company earlier this year. Chipotle revenue and shares have suffered in recent months following the outbreak of several food-borne viruses at various restaraunts.

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