Brian Niccol has resigned as CEO of Taco Bell to take the same position with Chipotle Mexican Grill Inc.
Niccol joined Taco Bell in 2011 and has been CEO since 2015. He also served as president of the brand — part of Louisville-based Yum Brands Inc. (NYSE: YUM) — from 2013 to 2014.
His leadership responsibilities will be assumed by Julie Felss Masino, president of Taco Bell North America, and Liz Williams, president of Taco Bell International, according to a news release. They will remain in their current roles and will report to Yum CEO Greg Creed.
Niccol ranked No. 4 on our most recent list of the highest-paid executives at Louisville-based public companies, with total compensation of $6.2 million in 2016.
Under his leadership, Taco Bell launched breakfast and began offering mobile ordering and payment at its 7,000 restaurants.
Before joining Taco Bell, Niccol held leadership roles at Pizza Hut, also a Yum brand, and brand-management positions at Procter & Gamble Co.
He will start in his new role on March 5.
Steve Ellis, chairman, CEO and founder of Denver-based Chipotle (NYSE: CMG), said in a news release that Niccol "will bring fresh energy and leadership to drive excellence across every aspect of our business."
"His expertise in digital technologies, restaurant operations and branding make him a perfect fit for Chipotle as we seek to enhance our customer experience, drive sales growth and make our brand more relevant," Ellis continued. "The board is confident that Brian's passion and skill set ideally position him to make the bold moves needed to improve operations and take the company to the next level, all while remaining true to our purpose and the values that are essential to our customers."
Earlier this month, amid slow sales growth, Chipotle said it would invest more than $50 million in 2018 to refresh and update existing restaurants.
Total compensation: 2016
| Rank | Prior Rank | Person |
|---|---|---|
1 | 9 | Murray, James E. |
2 | 2 | Gibbs, David W. |
3 | 3 | Pant, Muktesh |
