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Strategies & Market Trends : The Bad Burrito - Chipotle Mexican Grill (CMG)
CMG 40.26-1.9%Oct 28 9:30 AM EDT

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From: CitizenKane11/2/2016 12:49:33 PM
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Chipotle Might Oust Its Founder as Chairman

Shareholders may bring in an independent director.

Two union-affiliated shareholders in Chipotle Mexican Grill (CMG) on Tuesday said they would propose replacing the company’s chairman, Steve Ells, who founded Chipotle, with an independent director, piling on pressure after well-known activist Bill Ackman took a large stake in the company.

Amalgamated Bank and CtW Investment Group, both of which have previously sparred with Chipotle, filed a shareholder resolution on Tuesday to strip board leadership from Ells, who is also co-chief executive, by instituting an independent chair.

More at: fortune.com
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