New Chipotle CEO Deepens Cultural Shift With SoCal Headquarters
(Bloomberg) -- Chipotle Mexican Grill Inc. is cooking up some culture shock with its latest announcement -- a move to the West Coast.
The burrito seller -- which earlier this year named Taco Bell's former chief executive officer, Brian Niccol, as its leader -- is moving its headquarters to Newport Beach, California, just miles from Taco Bell's Irvine head office. With the relocation from Denver, Chipotle is trading in the city where its first restaurant opened 25 years ago for a state more known for its love of In-N-Out Burger.
“We'll always be proud of our Denver roots,” Niccol said. “The consolidation of offices and the move to California will help us drive sustainable growth while continuing to position us well in the competition for top talent.”
It's also closing its New York City office, the company said in a statement Wednesday. The restaurant chain said the move will affect about 400 employees in Denver and New York in the fourth quarter. Some will be offered relocation and retention packages.
Niccol, who took the helm in March, is already shaking things up at Chipotle. He has partnered with DoorDash to offer delivery service and has said the chain is looking at doing drive-through restaurants. He's also brought in new chief marketing officer Chris Brandt, another Taco Bell veteran.
To contact the reporter on this story: Leslie Patton in Chicago at lpatton5@bloomberg.net
To contact the editors responsible for this story: Anne Riley Moffat at ariley17@bloomberg.net, Jonathan Roeder
©2018 Bloomberg L.P.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
