Gourmet Mexican fast-food chain.
610 Newport Center Dr., Suite 1300
Newport Beach, CA
CEO: Brian Niccol
Stock Symbol: CMG
Chipotle operates a chain of Mexican fast-food restaurants offering high-quality ingredients including beans, rice and vegetables and naturally-raised meats including pork, chicken and beef in burritos, burrito bowls, tacos and salads. There are now over 2,424 restaurants nationwide and 37 restaurants in Canada and England.
Chipotle promotes its quality ingredients as Food With Integrity. It finds organic and local produce and farms that treat animals with respect and dignity.
Chipotle reported revenues of $4.47 billion in 2017, an increase of more than 12%, and net income of $176.2 million. The chain was hurt by declining sales since an outbreak of e coli bacteria in 2015 at some restaurants scared off customers and forced the company to change its food preparation practices.
In September 2017, the chain launched queso at all stores nationwide.
Brian Niccol, former CEO of Taco Bell, became the new CEO of Chipotle. He replaced founder Steve Ells who stepped down from the position.
The company moved its headquarters in 2018 from Denver to Newport Beach, CA.
Chipotle has also invested in a fast-casual pizza concept called Pizzeria Locale with two locations.
Steve Ells founded Chipotle in 1993 offering a simple menu of great food prepared fresh every day. The idea was simple: demonstrate that food served fast didn't have to be a "fast-food" experience.
Prior to launching Chipotle, Mr. Ells worked for two years at Stars restaurant in San Francisco. Mr. Ells graduated from the University of Colorado with a Bachelor of Arts degree in art history. He is also a 1990 Culinary Institute of America graduate.
McDonald's first invested in Chipotle in 1998.
The company went public in a January, 2006 IPO and was spun off from McDonald's corporation.
Chipotle closed Shophouse, a chain of 15 Southeast Asian-restaurants in 2017.
Here are benefits for restaurant employees:
· Limited Medical, Rx, Dental, and Vision Benefits*
· Paid vacation***
· Bi-annual merit increase***
· Closed New Years, Easter, Thanksgiving, and Christmas
· Referral bonuses
· Yearly bonus***
· Direct deposit
· Free meals
· Free t-shirts
*Employer contribution after one year
**Employer match after one year
***For those who qualify
Updated December 31, 2018