Monday, fast food chain Chipotle Mexican Grill, Inc. (CMG) announced some changes to its senior management team, which includes the promotion of Monty Moran to co-Chief Executive Officer, the addition of Mark Crumpacker as Chief Marketing Officer, and Bill Niman as a Sustainable Agriculture Adviser.
The Denver, Colorado-based company said Monty Moran would co-work with Steve Ells, Founder, Chairman in the CEO role as recognition of his positive impact on Chipotle, and out of a desire to allow the company to benefit more from the strength of his leadership. Prior to this appointment, Moran served as Chipotle's President and Chief Operating Officer since March 2005.
The company has also named Crumpacker as the company's first Chief Marketing Officer. He was working previously at Sequence, a brand-consulting firm co-founded by him in San Francisco.
Chipotle has appointed Niman, as a Sustainable Agriculture Adviser in the movement towards sustainable farming. Niman Ranch has been providing naturally raised pork to Chipotle since 2001.
Additionally, Chipotle also announced plans to enter the European market and is actively looking for sites in London. The company expects to open its first London restaurant in late 2009.
CMG closed Monday's trading at $62.55, losing $1.59 or 2.48% on the NYSE.
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