Taco Bell Corp.’s January shuffle in the top ranks was apparently a sign of things to come.
Chief Executive Brian Niccol jumped ship last week to join Denver-based Chipotle Mexican Grill Inc. as newly hired Brand President Julie Felss Masino took over his duties as president of the U.S. market.
The Mexican-themed fast food chain, a subsidiary of Yum Brands Inc. in Louisville, Ky., which also owns Pizza Hut and KFC, explained at the time that Felss Masino’s addition will provide Niccol with “the opportunity to focus on the company’s growth as a global brand while continuing to oversee the US business.”
The January C-suite expansion also included Chief Food Innovation Officer Liz Matthews, who picked up oversight of research and development, quality assurance, and engineering; previous Chief Operating Officer Mike Grams, who now serves as chief operations and development officer; and former Chief Marketing Officer Marisa Thalberg, who was named chief brand officer.
That all followed the appointment of Liz Williams, who’d served as chief financial officer since 2013, to head international operations in November.
Niccol, 43, was appointed chief executive in 2015 after predecessor Greg Creed took on a similar role at the parent company. Niccol joined Taco Bell in 2011 as chief marketing and innovation officer, and served as president from 2013 to 2014. His base salary at Chipotle will be $1.2 million, according to a document filed with the Securities and Exchange Commission. He’ll have the opportunity to earn an annual bonus for fiscal 2018 equal to 225% of his base salary.
“As Brian moves on to another opportunity, we’re grateful he has built a world-class leadership team,” Creed said in a statement. “I’m confident that Julie, an accomplished brand builder and restaurant industry executive, and Liz, a strong brand veteran, are well positioned to ensure a seamless transition and will continue to elevate Taco Bell into a distinctive, relevant and easy brand.”
Felss Masino spent 12 years at Starbucks Coffee Co., serving in different management roles, including vice president of strategy for the Americas, Europe, Middle East and Africa regions. She was chief executive at Sprinkles Cupcakes in Beverly Hills from 2015 to 2017, and joined El Segundo-based Mattel Inc. for an 11-month stint as senior vice president and general manager of its Fisher Price division.
Taco Bell has 6,849 restaurants and reported systemwide sales of $10.14 billion last year, up 5% over 2016.
