Chipotle Starts to Rebuild With New Marketing Director
Chipotle Mexican Grill shares saw a handy gain on Wednesday after the burrito chain announced that it would be adding a new chief marketing officer.
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Chipotle Mexican Grill Inc. (NYSE: CMG) shares saw a handy gain on Wednesday after the burrito chain announced that it would be adding a new executive. Specifically, the firm said that it would be adding Chris Brandt as its chief marketing officer in the coming month, replacing Mark Crumpacker, who left Chipotle last week.
Most recently, Brandt was at Bloomin’ Brands, where he served as executive vice president and chief brand officer across Outback Steakhouse, Carrabba’s, Bonefish Grill and Fleming’s. In this capacity, he oversaw a 75-person brand team and had responsibility for product innovation, brand positioning, product pipeline development, consumer insights, creative strategy and development, media strategy, loyalty and digital marketing across all four dining concepts.
Prior to this, Brandt was at Taco Bell and oversaw numerous successful new products, including Doritos Locos Tacos and the quesalupa, new dayparts such as Happier Hour and breakfast, digital initiatives such as the Taco Bell app, as well as other innovative media and sponsorship programs. Before joining Taco Bell, he held senior level marketing and brand development positions with Odwalla/Coca Cola and General Mills.
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Brian Niccol, CEO at Chipotle, commented:
Chris is an extremely talented and effective marketing executive. Having worked with Chris in the past, I have seen first-hand his ability to generate sales overnight and build brands over time. His experience and expertise make him an ideal fit for our leadership team at Chipotle as we look to reinvigorate this exceptional brand, and build sales, transactions and profitability.
Shares of Chipotle were last seen up about 5.6% at $338.07 on Wednesday, with a consensus analyst price target of $311.68 and a 52-week range of $247.52 to $499.00.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
