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Diving certificate:
- Chipotle’s Board of Directors appointed Scott Boatwrightcurrently Chief Operating Officer, as interim CEO, the company announced on Tuesday.
- Boatwright takes over from Brian Niccol, who has been CEO since 2018 and is leaving the company to Top manager at Starbucks.
- CFO Jack Hartung, the He had previously announced his intention to retire of Chipotle in 2025, will stay with the chain indefinitely as president of strategy, finance and supply chain to support the transition.
Diving insight:
As CEO, Niccol has created a “stronger and more experienced leadership team,” William Blair analyst Sharon Zackfia said in an emailed report to Restaurant Dive, adding that she is optimistic about the future despite Niccol’s impending departure from Chipotle.
Hartung will support Boatwright and continue to oversee Adam Rymer, vice president of finance and incoming CFO, and Carlo Londono, global head of supply chain.
“Boatwright has been instrumental in Chipotle’s efforts to improve operations, integrate new technologies, reduce employee turnover and increase customer satisfaction,” said Zackfia.
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 led operations at over 3,500 restaurants with over 120,000 employees.
“Boatwright played a critical role as part of the leadership team that developed and executed the turnaround strategy that has delivered incredible results since its inception in 2018,” the company said.
The executive is a strong proponent of Chipotlanes, Chipotle’s mobile pickup stations, which provide the chain’s most profitable sales, he previously told Restaurant Dive. The Chipotlanes increase sales and improve margins, he said. Boatwright also oversaw the chain’s rollout of several technologies, including Chipotle’s use of RFID technology to improve traceability and inventory systems.
