Dive Brief:
- Chipotle’s board of directors appointed Scott Boatwright, currently its chief operating officer, to interim CEO, the company said Tuesday.
- Boatwright will take over for Brian Niccol, who has been CEO since 2018 and is leaving to become top executive at Starbucks.
- CFO Jack Hartung, who previously said he would retire from Chipotle in 2025, will stay on at the chain indefinitely as president of strategy, finance and supply chain to help with the transition.
Dive Insight:
As CEO, Niccol created a “deeper, more experienced management bench,” Sharon Zackfia, analyst at William Blair, said in a report emailed to Restaurant Dive, adding that she is confident in Chipotle’s future, even with Niccol’s pending departure.
Hartung will support Boatwright and continue overseeing Adam Rymer, vice president of finance and incoming CFO, in addition to Carlo Londono, global head of supply chain.
“Boatwright has been an instrumental figure in leading Chipotle’s efforts to improve operations, integrate new technology, reduce employee turnover, and bolster customer satisfaction,” Zackfia said.
Boatwright joined the burrito brand in 2017 after spending nearly two decades at Arby’s, according to Chipotle’s management page. As COO, Boatwright has overseen operations at over 3,500 restaurants with over 120,000 employees.
“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,” the company said.
The executive has been a strong proponent of Chipotlanes, Chipotle’s mobile pickup lane, which are creating the chain’s most profitable transactions, he previously told Restaurant Dive. The Chipotlanes drive topline sales and improve margins, he said. Boatwright also oversaw the deployment of various technologies at the chain, including Chipotle’s use of radio-frequency identification technology to improve traceability and inventory systems.
