Scott Boatwright Appointed CEO of Chipotle

Chipotle Mexican Grill has officially appointed Scott Boatwright as its new CEO, following his interim leadership after Brian Niccol's departure to Starbucks. Boatwright, who joined Chipotle in 2017 and previously served as chief operating officer, was selected after a thorough search process and is expected to lead the company through challenging market conditions marked by weak consumer demand and rising menu prices. Despite missing third-quarter sales growth expectations, the company reported a 13% revenue increase and a 6% rise in same-store sales. Analysts believe Boatwright's extensive experience in operations and technology integration positions him well to navigate the company's future growth strategies. His leadership is critical for Chipotle to maintain momentum built under Niccol, who significantly boosted the brand's sales and stock value during his tenure. As of now, Chipotle's shares have seen a 1.1% increase following the announcement of Boatwright's permanent appointment.