Brian Niccol, previously CEO and Chairman of Chipotle Mexican Grill, (CMG) announced his resignation to become CEO of Starbucks. Niccol, who joined Chipotle from the Taco Bell Division of YUM! brands was instrumental in expanding the company to over 3,500 restaurants, revamping menus, introducing drive-thru lanes and achieving exceptional financial results reflected in the share price of the company.
Niccol will be succeeded at Chipotle by Scott Boatwright, Chief Operating Officer as the interim CEO. He is a seven-year veteran of the company and was a close collaborator with Niccol in implementing necessary changes to restore profitability and achieve expansion both in the U.S. and internationally.
In announcing his departure, Niccol stated, “I am incredibly proud of the work that has been accomplished since I joined Chipotle in 2018.” He added, “The strategic priorities this team has put in place has positioned Chipotle to win today and enable future growth. I depart knowing the business is in great shape and poised for growth with a strong, experienced leadership team.