BOSTON Dec 13 Union-affiliated shareholder CtW
Investment Group on Tuesday stepped up its pressure on Chipotle
Mexican Grill by urging billionaire investor William Ackman to
play a hand in recruiting new directors to its board.
"Replacing two or more incumbent directors with diverse
candidates experienced in effective human capital management
should be the highest immediate priority for the company, given
that both its downturn and sluggish recovery have stemmed from
inadequate training and staffing, as well as excessive
operational complexity," Dieter Waizenegger, CtW's executive
director, wrote in an open letter to Ackman. Hedge fund Pershing
Square Capital Management, controlled by Ackman, announced a
nearly 10 percent stake in the company in September.
(Reporting by Svea Herbst-Bayliss; Editing by Dan Grebler)