Chipotle to make announcement about board changes 'shortly'

[December 06, 2016]  LOS ANGELES (Reuters) - Chipotle Mexican Grill Inc expects to make an announcement shortly about a new slate of board members, Steve Ells, the burrito chain's co-chief executive, said at an investor conference on Tuesday.
 

A Chipotle Mexican Grill is seen in Los Angeles, California, U.S. on April 25, 2016. REUTERS/Lucy Nicholson/File Photo

Ells said the beleaguered burrito chain is taking a careful look at existing directors, with an eye toward what can be strengthened. In particular, he said Chipotle is looking at long director tenures and considering candidates with expertise in areas such as marketing, crisis management and corporate governance.

Billionaire investor William Ackman, who took a nearly 10 percent stake in the chain three months ago, wants multiple board seats with the aim of beefing up food safety and marketing, three people familiar with the matter have told Reuters.

(Reporting by Lisa Baertlein in Los Angeles)

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