Chipotle, the popular fast casual food chain, named a new CEO late yesterday.
Brian Niccol, CEO of Taco Bell, replaces Chipotle founder Steve Ells, who becomes the company’s executive chairman.
Wall Street applauded the news; Chipotle’s slumping stock price shot up by as much as 12% in after-hours trading.
Will Ells give Niccol enough room to revive the burrito purveyor?
If he’s a student of business history, he will —founder-CEOs are rare for good reason.
Because the only thing worse than a stomach bug that won’t quit is an executive that does the same.
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