Speed Reads

but guac is still extra

Chipotle CEO steps down after health scares and falling sales

Chipotle CEO Steve Ells is stepping down amid food safety scandals, low sales, and, presumably, charging a premium for guacamole.

Ells announced his resignation Wednesday, Bloomberg reported. He'll remain as head of Chipotle's board and focus on the chain's menu and ingredient sourcing.

It's clear something at Chipotle needed to change. The fast-casual Mexican grill has struggled to regain customers after an E. coli outbreak in 2015. And many said Ells, a chef turned CEO, didn't have the managerial chops to repair the company.

Ells doesn't have a replacement, but he is suggesting some menu changes that might win back customers. After all, nothing makes you forget a bad day at the office like a frozen margarita.