Chipotle names Taco Bell executive as CEO

PHOTO: Chipotle Mexican Grill restaurant sign, Photo Date: April 19, 2014
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NEW YORK (AP) - Chipotle has named Taco Bell executive Brian Niccol as its next CEO as the burrito chain keeps trying to rebuild its business after a series of food safety scares.

Niccol, who will start at Chipotle next month, has been CEO of Yum Brands Inc.'s Taco Bell chain for three years. He'll be tasked with helping turnaround the burrito chain.

Chipotle CEO and founder Steve Ells announced last year that he would step down in the CEO role and become executive chairman.

After the announcement, shares of Chipotle Mexican Grill Inc. soared 11 percent in extended trading Tuesday.

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