Cause
Recent scientific research has shown that the phenomenon of magnetic reconnection is responsible for CME and solar flares. Magnetic reconnection is the name given to the rearrangement of magnetic field lines when two oppositely directed magnetic fields are brought together. This rearrangement is accompanied with a sudden release of energy stored in the original oppositely directed fields.
On the sun, magnetic reconnection may happen on solar arcades—a series of closely occurring loops of magnetic lines of force. These lines of force quickly reconnect into a low arcade of loops, leaving a helix of magnetic field unconnected to the rest of the arcade. The sudden release of energy in this reconnection causes the solar flare. The unconnected magnetic helical field and the material that it contains may violently expand outwards forming a CME.
This also explains why CMEs and solar flares typically erupt from what are known as the active regions on the sun where magnetic fields are much stronger on average.
Read more about this topic: Coronal Mass Ejection