Skip to comments.Chipotle Promising to Pay Top Executives up to $1 Mln if They Don't Ditch the Chain Before New CEO
Posted on 01/12/2018 10:09:10 PM PST by nickcarraway
Chipotle is promising to pay top executives up to $1 million if they don't ditch the chain before it finds a new CEO
Chipotle is paying more than $1.6 million to make sure executives don't jump ship before the struggling burrito chain finds a new CEO.
On Friday, Chipotle reported in an SEC filing that it had entered into retention agreements with certain executives to convince them to stay at the chain as it searches for a replacement for founder Steve Ells.
As part of the agreement, Chipotle will pay CFO Jack Hartung $1 million if he stays at Chipotle for one year following the appointment of a new CEO.
(Excerpt) Read more at businessinsider.com ...
I was in a company that did something similar when it ran into problems. Why they thought that the same people who ran the company into the ground in the first place were worth keeping around seemed to us to be nothing more than one last chance to loot the company before they left.
I’ll admit it - I like Chipotle. As fast food goes, I like the taste, and convenience.
Yes, there are local, mom-and-pop burrito places which may be really good, but if I’m not near my home, how to know where the good ones are? Many of the mom-and-pop mexican places can be disasters, or they don’t speak english, or they aren’t in a good part of town. Its hit and miss.
Chipotle need to overcome their food-safety reputation. Keep the stores spotless.
Why can’t they teach any of their employees to wrap a burrito properly?
The food quality has gone into the pooper at least near me. I used to love Chipotle.
I like Chipoltle but prefer Pollo Loco or Baja Fresh because of their salsa bar. I would go to Chipotle more if they had a good salsa bar to dress up my bowl.
“I was in a company that did something similar...”
A bit difficult to accept that no one in upper management (second-third level below “chief” whatever) isn’t qualified to assume a given higher position. Among other deficiencies, existing management apparently didn’t prep for “continuity of operation” if a Killer Burrito wiped out the management team.
As for quality of Chipotle’s grub, I find it so-so. Despite their over-wordy & confusing menu I’m content with Taco Bell. Chipotle isn’t worth the extra mile or two of travel. And having the meal “glomp layered” in a paper bowl is less than appetizing. And I tend to eat my food “well stirred”
Please ditch the bowls and just put it on a plate!
For serious All Hands Chow-down we’re fortunate to have three very good-excellent family owned-operated Mexican places with 10-15 miles.
Chipotle mean ‘gristle’.
IF I was one of those executives, I would demand that that offer be placed into an escrow right now or I wouldn’t make any claims to staying.
It isn’t very smart in the first place to retain people that drove the train off the tracks, off the bridge & into the river.
I’ve never been to one. Haven’t seen one within a hour’s drive so guess they aren’t as popular as they think they are.
They need to ditch the 'all natural, organic' crap and use ingredients that have been properly raised prepared, and preserved.
Why can't they teach their employees to wash the produce and their hands?
My children used to love Chipotle and a few years ago one opened up near our home. The kids then started to boycott the place because they said it would take up to 20 minutes to get their orders made. I had never eaten at a Chipotle at that time and was planning to try their food until I found out about the wait times.
I was a manager of a 24/7 type of store and the Chipotle employees would wander in to buy things after their store closed. They were all, to a person, filthy and every one a minority. That was around the time the food poisoning started so I have yet to eat at a Chipotle and I never will.
My store was part of a large chain (Fortune 500) that had extremely strict food handling and personal hygiene standards so I know how to keep food and customers safe and happy.
I heard Chipotle food was good but wasting too much time to get a burrito and then maybe getting sick is not what I crave, and after seeing how disgusting their employees were when they entered my store I would never set foot in a Chipotle.
When the local Chipotle opened it was always packed with customers but now, every time I drive by, it looks like a ghost town.
The Chipoltle near us has a terrible reputation. The El Pollo Loco has a great rep. We drive the extra five miles to EPL. I find that many posts on Facebook/Twitter are accurate and time regarding dining establishments.
Chipotle’s error was this “farm to table” mentality of local sourcing. It introduces a lot of variables that are hard to manage and give less opportunity for quality control. This sort of fad - appealing to the desire for organic, natural, somehow healthier foods accomplished the opposite result.
Chipotle mean gristle. which what their beef selection is. I tried it once and was given a refund.
I really miss Keith Jackson and Vern Lundquist. So many great announcers have died or retired.
Retailers shouldn’t say “chain” any more. It’s racist.
Sorry. Wrong thread. :D
“Why cant they teach any of their employees to wrap a burrito properly?”
BINGO! Also, it would be nice if they spoke english. Went there twice, same problems each time, giant square burritos and no english spoken. All the food poisonings didn’t help things either.
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