Chipotle Mexican Grill has expedited the transition of its chief financial officer, advancing Adam Rymer’s start date to October 1st from the initially planned January. This move comes in the wake of Chief Executive Brian Niccol’s departure to Starbucks, prompting the company to implement retention strategies to maintain stability within its executive team.
Originally slated to take over as CFO at the beginning of next year, Rymer will now assume the role earlier than anticipated, succeeding Jack Hartung, who has long served as Chipotle’s financial leader. Hartung had planned to retire but will now remain with the company, taking on the position of president and chief strategy officer. His new role, also effective on October 1st, will involve supporting interim CEO Scott Boatwright during this period of transition.
In addition to these changes, Jamie McConnell, currently serving as Chipotle’s controller, will step into the role of chief accounting and administrative officer.
To ensure continuity and stability, Chipotle has introduced retention plans for its entire leadership team, aiming to provide consistent guidance as the company navigates this period of significant change.
Brian Niccol will officially begin his role as CEO of Starbucks on September 9th, where he is expected to focus on revitalizing the coffee giant amid pressures from activist investors.