Chipotle Mexican Grill names Scott Boatwright as permanent CEO By Reuters

(Reuters) -Chipotle Mexican Grill on Monday named interval in-between boss Scott Boatwright as eternal CEO of the burrito chain, months after Brian Niccol exited the role to rob the tip job at Starbucks (NASDAQ:).

Boatwright steps in at a time when moving areas across the US are struggling with old consumer inquire in the face of greater menu prices.

In October, Chipotle (NYSE:) overlooked market expectations for third-quarter same-retailer gross sales whisper and maintained its whisper aim for annual related restaurant gross sales.

Executives stated on a post-earnings name that Niccol’s exit became as soon as “no longer expected.”

Boatwright, who will rob on the role effective straight away, became as soon as Chipotle’s running chief sooner than being appointed its interval in-between CEO in August.

After 5 years beneath Niccol’s management, gross sales in the burrito chain doubled, while its stock tripled.

A worn in the restaurant alternate, Boatwright spent 18 years with Arby’s Restaurant Neighborhood (LON:) in numerous management positions sooner than he joined Chipotle in 2017.