Chipotle Shareholders Want Steve Ells Out As Chairman

Via Getty Images

Via Getty Images

On Tuesday, Amalgamated Bank and CtW Investment Group (two Chipotle shareholders) filed a proposal calling on Ells to be ousted as chairman, and replaced with an independent director. In a statement, Amalgamated Bank CEO Keith Mestrich said Chipotle’s governance poses “a direct risk to shareholders and the public at large.” An independent, outside chair, he added, would allow Chipotle “to provide a more publicly transparent and responsive approach moving forward.”

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