Why Shares of Chipotle Mexican Grill, Inc. Popped 12% in November

Shares of burrito giant Chipotle Mexican Grill, Inc. (NYSE: CMG) jumped 11.9% in November, according to data provided by S&P Global Market Intelligence, after CEO Steve Ells announced he is stepping down as the leader of the company.

Ells founded Chipotle in 1993 and built the company into what it is today, but hasn't been able to turn around its reputation after food safety issues first popped up in 2015. The move came about a year after co-CEO Monty Moran, who shared the job with Ells for a while, stepped down.

Image source: Getty Images.

Source: Fool.com