Taco Bell CEO Brian Niccoli has said that he is “not ready to resign” and is looking for a “more permanent position” to lead the company.
“It’s a lot of work to do, and I’ve been working very hard to prepare for this and to keep the company in top shape,” he said.
“I’ve also been trying to find a position with a larger team and that’s where I am.”
We’re in a good place with the team.
I’m very thankful for the amazing support from the people who are working for us and I’m excited about the future.
“Taco bell has been the subject of controversy in recent weeks after reports emerged that CEO Brian McNerney had called the CEO of rival Burger King a “chicken”.
McNerney is the CEO and founder of McDonald’s, which was bought by Wendy’s in 2014 for $7.4bn.
Last month, McNersey said that his company would “continue to grow and invest” to meet consumer demand.”
This is the right time for Taco Bell to make the right decisions about its future,” he wrote on Twitter.”
There is a lot more to do and it is important that we are on the right path to ensure that we continue to grow in the coming years.
“McNersons comments were seen as a threat to Burger King and caused the stock to drop by more than 20%.”
Taco has not been an easy sell, as the company has suffered a lot during this time, including a $2bn charge to shareholders and an increase in employee turnover,” McDonald’s said in a statement.”
The board believes that this is the best path forward for Taco to remain in the business.
“Burger King’s share price has risen on the company’s disappointing earnings and revenue.
The company said that the impact of McNerneys comments had been “minimal”.”
We do not believe that it will have a material impact on our financial performance,” it said.
McNernys statement came days after the company announced that it would be laying off up to 2,000 employees in the US, Canada and Mexico.