Chipotle Mexican Grill Names New Board Members

Chipotle Mexican Grill said on Friday it has named four new members to its board of directors, four days after Founder Steve Ells said he would take over as the sole chief executive of the comapny.

The new board members are Paul Cappuccio, Robin Hickenlooper, Ali Namvar and Matthew Paull, whose appointments were made effective on Wednesday, the company said in a statement. The four will serve an initial term through the company’s 2017 annual meeting.

“The addition of these new directors strengthens our board of directors, and gives us the oversight, accountability and leadership we need as we continue our efforts to reestablish Chipotle as the leader we have been for much of our history,” Ells said.

Activist investor William Ackman, the chief executive of Pershing Square Capital Management, said in a statement that he’s “pleased” that Chipotle has refreshed its board as it will “position the company for continued growth and long-term success.” Ackman had been seeking a shake-up of the company’s board, and there was wide speculation he would personally take a seat at the directors’ table.

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