Chipotle Looking For New Chief Executive 

(Denver, CO)  —  Chipotle Mexican Grill says it’s looking for a new chief executive officer.

CNBC reports chief executive and founder Steve Ells is moving up to executive chairman. The Chipotle board has formed a search committee to find a new CEO.

News of the search rallied Chipotle shares, rising about six percent in premarket trading today. The fast-food chain was founded in 1993.

It’s struggled to bring back customers following a norovirus outbreak at its Sterling, Virginia restaurant circulated in July.