The founder of Chipotle started this business with the idea of fast-casual dining. Chipotle Mexican Grill, Inc. (Chipotle) is an American chain of restaurants specializing in bowls, tacos, and Mission burritos. It majorly operates in the United States, United Kingdom, Canada, Germany, and France. In today’s post, I will discuss the founder and CEO of Chipotle and the origin of Chipotle.
Who Is The Founder Of Chipotle?
The founder of Chipotle is Steve Ells who is a famous American businessman. Steve is also the former CEO and former Executive Chairman of Chipotle Mexican Grill. He founded Chipotle in 1992 and the chain promotes sustainable agriculture. In the beginning, Chipotle had 16 restaurants when McDonald’s Corporation became a major investor in 1998.
You can keep on reading further to know more about the owner and founder of Chipotle.
About The Founder Of Chipotle
Chipotle’s founder Ells was born in Indianapolis on September 12, 1965. He is the son of a pharmaceutical executive. Steve attended Boulder High School and the University of Colorado at Boulder. Over here, he received a Bachelor of Arts degree in Art History. Steve later also became a member of the Delta Chi fraternity. He even enrolled at the Culinary Institute of America in Hyde Park, New York while completing his graduation in 1990.
Earlier, Steve used to work as a chef at Stars restaurant in San Francisco for two years. Steve opened a Chipotle-themed taco store in Denver, Colorado near the University of Denver campus. He opened this store using just $85,000 from his family and friends. He was the CEO of the chain from 1993 to 2009. Steve later split his duties with Monty Moran for a while. However, he did receive the CEO of the Year Award from ColoradoBiz magazine in 2007. For now, he sits on the board of directors of the Land Institute.
Many people among us often wonder is the founder of Chipotle Mexican. Steve Ells is American not Mexican and serves naturally raised meat under his food chain. In 2017, Chipotle announced that Steve will step down as the CEO of the company. He will continue to serve as executive chairman after the new CEO is appointed. Steve even decided to serve on the CEO search committee with fellow Chipotle board members Robin Hickenlooper and Ali Namvar.
Being the founder of Chipotle, his net worth is around $200 million dollars. However, Steve received a lot of criticism over his salary. According to The New York Times, he was paid nearly $25.1 million dollars! This was more than equivalent to executives in companies like Ford, Boeing, and AT&T. In the early 2010s, he and his co-CEO Montgomery Moran were paid more than $300 million.
Do you know how did Chipotle get its name? Chipotle got its name from Chipotle which is the Nahuatl name for a smoked and dried jalapeno chili pepper. Now, you must be wondering how many Chipotle locations are there. There are over 2966 locations of Chipotle across the United States, Canada, United Kingdom, Germany, and France. However, Chipotle’s headquarters are located in Newport Beach, California, U.S.
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Who Is Chipotle Owned By?
Steve Ells , Founder, Chairman and CEO, started Chipotle with the idea that food served fast did not have to be a typical fast food experience.
Does Steve Ellis Still Own Chipotle?
Brian Niccol became CEO of Chipotle Mexican Grill in February 2018. On March 6, 2020, Ells resigned as chairman and left the board of directors, breaking his final ties to the company.
Is Chipotle Still Owned By Mcdonald’s?
Chipotle was one of the first chains of fast casual dining establishments. Founded by Steve Ells on July 13, 1993, Chipotle had 16 restaurants (all in Colorado) when McDonald’s Corporation became a major investor in 1998.
When Did Mcdonald’s Buy Chipotle?
The burger chain made an investment in Chipotle in 1998 that helped it grow from 14 locations to nearly 500 within seven years. By 2005, McDonald’s had a 90% stake in Chipotle’s business. But one year later, McDonald’s divested its stake and parted ways with the fledgling burrito chain.
Was Chipotle Founded By Mexicans?
Chipotle Mexican Grill was founded by Steve Ells in 1993 and is based in Denver, Colorado. The name Chipotle derives from the Nahuatl/Mexican name for a smoked, dried jalapeño chili pepper.
Who Is Chipotle’s Biggest Competitor?
Taco Bell is the biggest fast-food chain that competes directly against Chipotle. With over 7,300 locations, Taco Bell is a giant that towers over Chipotle waiting for the right opportunity to grab its market share.
The name of Chipotle’s founder is Steve Ells who is an American businessman and also a co-founder of Chipotle. For now, Brian Niccol is the CEO of Chipotle Mexican Grill after former CEO Montgomery Moran. The founder of Chipotle resigned as chairman and even left the board of directors by breaking his final ties with the company.