On Friday, Chipotle Mexican Grill (CMG) announced that four board members won't stand for re-election in May. The news supports more impact from Pershing Square Capital that weren't so positive on an similar move at Valeant Pharma (VRX). The activist has an agreement to add two members to the board while filing a registration to provide the opportunity to dump their 10% position. The changing of board members won't solve the problems caused by the health scare. Chipotle isn't a cheap stock at $400 and it's already a well run company. In fact, upheaval in the board only leads to more issues with the CEO focusing on moving the restaurant concept forward from the health scare. As the chart shows, the stock is on a verge of a retest of the recent lows near $350. The involvement of Bill Ackman has propped up the stock. Look out below. Disclosure: No position