GUV’S WIFE AMONG 4 NEW DI­REC­TORS ON CHIPO­TLE BOARD

The Denver Post - - BUSINESS -

Den­ver-based Chipo­tle Mex­i­can Grill Inc., fac­ing crit­i­cism that it was slow to re­spond to an E. coli out­break last year, named four new di­rec­tors to its board in a long-an­tic­i­pated shake-up sup­ported by ac­tivist in­vestor Bill Ack­man.

The new mem­bers — Paul Cap­puc­cio, Robin Hick­en­looper, Ali Nam­var and Matthew Paull — joined the board on Wed­nes­day. The move brings the cur­rent num­ber of di­rec­tors to 12, the bur­rito chain said in a state­ment on Fri­day.

Hick­en­looper, se­nior vice pres­i­dent of cor­po­rate de­vel­op­ment at Lib­erty Global and Lib­erty Me­dia, is mar­ried to Colorado Gov. John Hick­en­looper.

Be­fore join­ing Lib­erty, she worked in strate­gic plan­ning and busi­ness de­vel­op­ment at Del Monte Foods and in in­vest­ment bank­ing at Thomas Weisel Part­ners.

The over­haul ad­dresses con­cerns that Chipo­tle’s board was too in­su­lar and lacked di­ver­sity.

The re­vamped board “gives us the over­sight, ac­count­abil­ity and lead­er­ship we need,” CEO Steve Ells said in the state­ment.

Nam­var is an ex­ec­u­tive at Ack­man’s firm, Per­sh­ing Square Cap­i­tal Man­age­ment, Chipo­tle’s largest in­vestor. He joined Per­sh­ing Square in 2006 and helped over­see its in­vest­ments in Mc­Don­ald’s, Wendy’s In­ter­na­tional and other food com­pa­nies.

Paull, who pre­vi­ously served on Chipo­tle’s board when the com­pany was owned by Mc­Don­ald’s, is also on the ad­vi­sory board at Per­sh­ing Square.

Cap­puc­cio, a for­mer U.S. Supreme Court clerk and as­so­ciate deputy at­tor­ney gen­eral at the De­part­ment of Jus­tice, rounds out the new ad­di­tions. He has been gen­eral coun­sel at Time Warner Inc. since 2001.

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