Chipotle Names Scott Boatwright as Permanent CEO Amid Strong Performance

Chipotle Mexican Grill Inc. has appointed Scott Boatwright as its permanent chief executive officer, effective immediately. Boatwright, who was named interim CEO in August following Brian Niccol's departure to lead Starbucks Corp., has held previous roles as Chipotle’s chief operating officer and chief restaurant officer since joining the company from Arby’s in 2017. Chipotle’s board made the decision after what it described as a “robust and thorough process."

In New York trading, Chipotle’s shares remained steady, reflecting a 28 percent rise over the year, slightly outperforming the S&P 500 Index. This growth highlights the burrito chain’s strong market presence despite challenges in the restaurant industry, with consumer spending on dining out showing signs of slowing. Unlike some competitors, such as McDonald's and Starbucks, which have faced several quarters of declining same-store sales, Chipotle has continued to attract diners.

Amid rising food costs, Chipotle’s appeal as a fast-casual dining option has increased relative to fast-food chains that have been impacted by price hikes. In the third quarter, Chipotle reported growth in both transaction volume and average check size—a trend that, according to Boatwright, has shown "accelerating transaction trends" heading into the fourth quarter.

Boatwright, alongside Niccol, has focused on streamlining operations and improving service times at Chipotle locations. The company introduced separate assembly lines specifically for online orders to reduce congestion at physical locations.

In an interview last year, Boatwright discussed how employee retention was improving at Chipotle, even as demand in the retail sector softened and the tech industry experienced layoffs. He noted that Chipotle typically recruits about 15,000 workers in preparation for its busy season from March to May. Given the chain’s growth, it continually hires for hourly roles, as new store openings require steady staffing. “We are very well staffed for today’s volume, but that volume is growing daily,” Boatwright remarked at the time, acknowledging the ongoing recruitment needs of a high-growth business.

Chipotle anticipates adding up to 345 company-operated restaurants by the end of the year, signaling its continued expansion under Boatwright’s leadership.