DENVER — Does the leadership of Chipotle Mexican Grill deserve to be paid more than some of the most elite executive teams in the world?
That’s the question some shareholders and customers are asking after a Denver Post report that the top five execs at the Denver company took home $67.3 million last year – 42 percent more than the leadership of Coca-Cola and nearly as much as the top brass at General Electric.
The news comes amid reports that the restaurant chain is poised to raise prices across the menu.
CtW has launched a major effort urging shareholders to rein in the pay of Chipotle CEOs Steve Ells and Monty Moran, as well as three other executives. CtW claims that Ells and Moran are paid about $25 million apiece – roughly 10 times the median rate for similar CEOs. The men also receive allowances to cover their housing and vehicles.
For its part, Chipotle leadership points out, simply, that they are doing an incredible job of growing the company. Chipotle is booming, with shares up some 2,200 percent since 2006, according to the Post.