Chipotle names interim CEO
Chipotle Mexican Grill has made several leadership changes in the wake of the upcoming departure of its chief executive.
The quick-service giant has named Scott Boatwright, COO, as interim CEO. His appointment comes on the heels of the departure of Brian Niccol, chairman and CEO, who will be leaving the company effective Aug. 31 to take the reins at Starbucks. Niccol has served as Chipotle's chief executive since 2018 and as chairman since 2020.
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Boatwright joined Chipotle in 2017 and has been instrumental in driving restaurant operations for the chain's more than 120,000 employees and over 3,500 restaurants, the company said. He also led the integration of new technology into restaurants, built a strong culture aligned to the organization's values, and achieved industry-leading retention rates yielding impressive results and improvements in throughput and the overall guest experience.
“Boatwright played a critical role as part of the leadership team that created and executed the turnaround strategy that has delivered incredible results since it began in 2018,” Chipotle stated, adding that he and leadership team will continue to execute the company's strategic plan without interruption.
In addition, longtime CFO Jack Hartung, who had previously announced he planned to retire in March of 2025, has agreed to remain with Chipotle indefinitely as president of strategy, finance and supply chain to ensure a smooth transition. In this new role, Hartung will support Boatwright as interim CEO, and continue his current oversight of Adam Rymer, VP of finance and incoming CFO, as well as Carlos Londono, global head of supply chain.
With the leadership change, Scott Maw, Chipotle's lead independent director, has been named chairman of the board, effective immediately.
"I'm incredibly proud of the work that has been accomplished since I joined Chipotle in 2018," said outgoing CEO Niccol. "The strategic priorities this team has put in place have positioned Chipotle to win today and enable future growth. It's hard to leave such a great company and all of the talented people I've had the pleasure to work with, but I depart knowing the business is in great shape and poised for growth with a strong, experienced leadership team."
Boatwright added: "I have the utmost confidence in our five key strategies and I'm excited for the new opportunity to lead the business moving forward. We have a world-class organization full of talented leaders who are passionate about our brand and purpose and excited for the long-term opportunity to grow to 7,000 restaurants in North America and expand internationally."
Chipotle has more than 3,500 restaurants as of June 30, 2024 in the United States, Canada, the United Kingdom, France, Germany and Kuwait. It is the only restaurant company of its size that owns and operates all its restaurants in North America and Europe.
