CHIPOTLE MEXICAN GRILL, INC. (NYSE:CMG) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On December12, 2016, Chipotle Mexican Grill, Inc. announced that
Founder, Chairman and Co- Chief Executive Officer Steve Ells will
return to the role of sole Chief Executive Officer of the
company, effective immediately.
On December9, 2016, Monty Moran, Co-Chief Executive Officer and
Secretary of Chipotle, provided notice to the company that he
will retire effective June9, 2017, and resigned from his officer
positions with the company, and as a member of the companys Board
of Directors, effective immediately. In connection with his
retirement, Mr.Moran entered into a Retirement and
Non-Competition Agreement, to which he has agreed for a two year
period not to, directly or indirectly, own, manage, operate,
control, be employed or engaged in any capacity (whether or not
for compensation) by, or render services, advice, or assistance
in any capacity to, a business competing with the company in the
continental United States. Through his retirement date, Mr.Moran
will remain employed by the company in a non-officer position.
The Retirement and Non-Competition Agreement contains certain
other rights and obligations, and the foregoing description of
the agreement is qualified in its entirety by reference to the
full terms of the agreement, which is filed as an exhibit to this
Current Report on Form 8-K and incorporated herein by reference.
Item9.01. Financial Statements and Exhibits.
Retirement and Non-Competition Agreement Dated December9,
|Exhibit99.1||Press Release Dated December 12, 2016|
About CHIPOTLE MEXICAN GRILL, INC. (NYSE:CMG)
Chipotle Mexican Grill, Inc., together with its subsidiaries operates Chipotle Mexican Grill restaurants. The Company’s Chipotle Mexican Grill restaurants serve a menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads. The Company operates approximately 1,970 Chipotle restaurants throughout the United States, over 10 in Canada, seven in England, four in France and one in Germany. The Company’s restaurants include over 10 ShopHouse Southeast Asian Kitchen restaurants, serving Asian-inspired cuisine. The Company owned and operated approximately three Pizzeria Locale restaurants, a fast casual pizza concept, resulting in a totaling of approximately 2,010 restaurants. The Company sells gift cards which do not have an expiration date. CHIPOTLE MEXICAN GRILL, INC. (NYSE:CMG) Recent Trading Information
CHIPOTLE MEXICAN GRILL, INC. (NYSE:CMG) closed its last trading session down -0.34 at 376.88 with 1,127,288 shares trading hands.