Hollis Johnson
Chipotle is moving its headquarters from Denver, Colorado to Newport Beach, California.
- Chipotle is moving its headquarters to Newport Beach, California.
- The company will shut down its headquarters in Denver, Colorado, and close additional offices in New York as part of the transition.
- About 400 employees will be affected in the fourth quarter of the year.
Chipotle is relocating its headquarters to Newport Beach, California, from Denver, Colorado - where the company was founded more than 25 years ago - and shutting down additional offices in New York City.
The move will affect about 400 employees in Denver and New York in the fourth quarter of the year, the company said Wednesday. Some employees will be offered relocation and retention packages.
The new site for the company's headquarters is about 10 miles from Irvine, California, which is home to the corporate offices of Chipotle CEO Brian Niccol's former employer, Taco Bell.
"We have a tremendous opportunity at Chipotle to shape the future of our organization and drive growth through our new strategy," Niccol said in a statement. "In order to align the structure around our strategic priorities, we are transforming our culture and building world-class teams to revitalize the brand and enable our long-term success."