The co-CEOs of Chipotle Mexican Grill Inc. (NYSE: CMG) paid a terrible price financially for a year in which its shares were punished after tainted food was discovered at a number of its restaurants.
Steve Ells and Monty Moran suffered compensation cuts from $29 million in 2014 to $1.39 million in 2015. Ells founded Chipotle Mexican Grill in 1993 and has become fabulously rich as its stock posted an extraordinary increase for years. Each man owns between 1% and 2% of Chipotle Mexican Grill, and their holdings have lost a great deal of their value.
After a run that began in 2011 and ended in mid-2015, Chipotle Mexican Grill shares rose 200%. In the past year, they are down 24%.
Recent results show the extent to which the food poisoning hit the company:
Highlights for the fourth quarter of 2015 as compared to the fourth quarter of 2014 include:
- Revenue decreased 6.8% to $997.5 million
- Comparable restaurant sales decreased 14.6%
- Restaurant level operating margin was 19.6%, a decrease of 700 basis points
- Net income was $67.9 million, a decrease of 44.0%
- Diluted earnings per share was $2.17, a decrease of 43.5%
- Opened 79 new restaurants
It’s Your Money, Your Future—Own It (sponsor)
Retirement can be daunting, but it doesn’t need to be.
Imagine having an expert in your corner to help you with your financial goals. Someone to help you determine if you’re ahead, behind, or right on track. With SmartAsset, that’s not just a dream—it’s reality. This free tool connects you with pre-screened financial advisors who work in your best interests. It’s quick, it’s easy, so take the leap today and start planning smarter!
Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
