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• Chipotle Mexican Grill said yesterday that it plans to move its headquarters out of its longtime Denver home, to Newport Beach, California. Some functions will be moved to existing Chipotle offices in Columbus, Ohio.

According to the story, “Newport Beach will serve as the headquarters for the company's operations, business development, marketing, communications, finance, supply chain, food safety, technology, HR and other corporate functions.” New CEO Brian Niccol says that “the move to California will help us drive sustainable growth while continuing to position us well in the competition for top talent.”

Go figure. A 2015 story in the LA Times mentions that Niccol lives in … wait for it … Newport Beach. Before taking on the Chipotle position, Niccol was CEO at Taco Bell, which is headquartered in Irvine, California, less than a dozen miles from Newport Beach. So he got a pretty good deal when he moved over to Chipotle - more money and a shorter commute. Plus, nothing says “I have the company’s best interests at heart” like uprooting the company’s people.
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