American casual dining chain Chipotle Mexican Grill‘s chief marketing and strategy officer Mark Crumpacker has resigned from the company after serving for nine years.
The development comes a month after Chipotle hired Taco Bell head Brian Niccol as its new CEO, who took charge of the new role on 5 March.
According to a SEC filing, the resignation, effective 15 March, follows a Separation Agreement signed by the company and Crumpacker.
“[Chipotle] signed a retention agreement of $600,000 for Crumpacker that would reward him for staying one year after a new CEO was appointed.”
As part of the terms of the agreement, Chipotle will pay Crumpacker an amount equal to 26 weeks gross salary at his regular rate of pay.
A Chipotle spokesperson, quoted by CNBC, said: “Mark has been a valued member of our leadership team and played an integral role in shaping and defining the Chipotle brand, and we thank him for his contributions.
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“We have a very talented marketing team in place and we’ll continue our existing programmes while we finalise the plans for a new CMO.”
In January this year, the company signed a retention agreement of $600,000 for Crumpacker that would reward him for staying one year after a new CEO was appointed.
This resignation comes after Chipotle placed Crumpacker on leave last year after he plead guilty to ‘drug possession’ and completed a rehabilitation programme.
