Hollis Johnson
- Chipotle's new CEO will be Taco Bell's current leader.
- The struggling chain has been searching for a new CEO since November, when founder Steve Ells announced plans to step down in an effort to turn around the chain.
Chipotle's new CEO comes from another Mexican chain.
The struggling chain's new top executive will be Taco Bell's current CEO Brian Niccol. Niccol will replace Chipotle's founder and current CEO, Steve Ells.
Ells said in a press release that Niccol will bring "fresh energy and leadership to drive excellence across every aspect of our business."
"His expertise in digital technologies, restaurant operations and branding make him a perfect fit for Chipotle as we seek to enhance our customer experience, drive sales growth and make our brand more relevant," Ells continued.
Chipotle announced in November that Ells plans to step down as it begins its hunt for a new CEO with "demonstrated turnaround expertise."
Niccol joined Taco Bell 2011 as its chief marketing and innovation officer. Over the last seven years, Taco Bell has experienced explosive growth thanks in part to Niccol's strategy of pushing for creative marketing and new menu items that at times border on bizarre, such as the Naked Chicken Chalupa.
Chipotle has struggled since an E. coli crisis two years ago drove customers away from the chain. Shares of the company are down more than 60% since peaking in August 2015.
This story is developing and will continue to update.
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