- Chipotle is earnest executives vital bonuses if they don’t quit while a association looks for a new CEO.
- Chipotle’s CFO is set to make $1 million if he stays during Chipotle for one year after a sequence replaces owner Steve Ells with a new CEO.
- The company’s CMO, who was formerly placed on a three-month leave after being arrested on charges of heroin possession, will accept a $600,000 bonus.
Chipotle is profitable some-more than $1.6 million to make certain executives don’t burst boat before a struggling burrito sequence finds a new CEO.
On Friday, Chipotle reported in an SEC filing that it had entered into influence agreements with certain executives to remonstrate them to stay during a sequence as it searches for a deputy for owner Steve Ells.
As partial of a agreement, Chipotle will compensate CFO Jack Hartung $1 million if he stays during Chipotle for one year following a appointment of a new CEO.
CMO Mark Crumpacker is set to accept $600,000 on a one-year anniversary of a appointment of Ells’ replacement. Crumpacker had formerly taken a three-month leave of deficiency in 2016 after being arrested on charges of heroin possession.
Chipotle announced in Nov that Ells skeleton to step down as it starts a hunt for a new CEO. According to Chipotle, a association is looking for “a new personality with demonstrated turnaround imagination to assistance residence a hurdles confronting a company, urge execution, build patron trust, and expostulate sales.”
Chipotle has struggled since an E. coli predicament dual years ago gathering business divided from a chain. Shares of a association are down some-more than 60% given peaking in Aug 2015.EXCLUSIVE FREE SLIDE DECK:
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