Chipotle Mexican Grill (NYSE:CMG) has expedited its CFO transition following the exit of CEO Brian Niccol for Starbucks (NASDAQ:SBUX), the burrito chain announced on Wednesday.
What Happened: Adam Rymer will now take over as finance chief on Oct. 1, instead of January as initially planned. This decision comes after Niccol's announcement to join Starbucks as CEO on Sept. 9. Rymer was promoted to the role in July, succeeding longtime CFO Jack Hartung.
Hartung, who had intended to retire, will now serve as Chipotle's president and chief strategy officer, also effective Oct. 1. He will support interim CEO Scott Boatwright during this period. Additionally, Jamie McConnell, Chipotle's controller, will step into the role of chief accounting and administrative officer.
To ensure leadership stability, Chipotle has implemented retention plans for its entire executive team during this transitional phase. Niccol's move to Starbucks is aimed at revitalizing the coffee giant as it faces pressure from activist investors.
Why It Matters: The transition at Chipotle comes at a crucial time for the company. Recently, Chipotle has been in the spotlight for both positive and negative reasons. On Tuesday, Chipotle's stock rose following the announcement of a new menu item, Chipotle Honey Chicken, which is part of the company's strategy to introduce two to three new items annually.
However, the company is also facing scrutiny from the National Labor Relations Board. The NLRB has accused Chipotle of unlawfully withholding pay raises from unionized workers at its Lansing, Michigan location.
The charges stem from allegations by the International Brotherhood of Teamsters, which claimed that Chipotle informed unionized workers they would not receive the same raises as non-unionized employees. The NLRB's general counsel intends to file a formal complaint unless the issue is resolved.
Despite these challenges, some experts believe that Chipotle remains a strong investment. Stephanie Link, Chief Investment Strategist & Portfolio Manager at Hightower Advisors, indicated that the company's recent stock decline presents a buying opportunity.
Price Action: In after-hours trading, Chipotle Mexican stock fell 0.48% to $55.50. Earlier in the regular trading session, the stock closed at $55.77, down 0.66% for the day. Year to date the stock has surged 24.21%, according to data from Benzinga Pro.
墨西哥捲餅連鎖店週三宣佈，在星巴克（納斯達克股票代碼：SBUX）首席執行官布萊恩·尼科爾退出後，Chipotle Mexico Grill（紐約證券交易所代碼：CMG）加快了首席財務官的過渡。
發生了什麼：亞當·萊默現在將在10月1日接任財務主管，而不是最初計劃的1月。這一決定是在Niccol於9月9日宣佈加入星巴克擔任首席執行官之後做出的。萊默於7月晉升爲該職位，接替長期擔任首席財務官的傑克·哈通。
原本打算退休的哈通現在將擔任Chipotle的總裁兼首席戰略官，也將於10月1日起生效。在此期間，他將支持臨時首席執行官斯科特·博特賴特。此外，Chipotle的財務總監傑米·麥康奈爾將出任首席會計和行政官。
爲了確保領導層的穩定性，Chipotle已在過渡階段對整個高管團隊實施了保留計劃。Niccol轉會星巴克的目的是振興這家咖啡巨頭，因爲它面臨着來自激進投資者的壓力。
爲何重要：Chipotle的過渡正值公司的關鍵時刻。最近，Chipotle因積極和消極的原因而備受關注。週二，Chipotle的股票上漲，此前宣佈推出新菜單Chipotle Honey Chicken，這是該公司每年推出兩到三種新菜單的戰略的一部分。
但是，該公司也面臨國家勞動關係委員會的審查。NLRB指控Chipotle在密歇根州蘭辛非法扣留工會工人的加薪。
這些指控源於Teamsters國際兄弟會的指控，該組織聲稱Chipotle告知加入工會的工人，他們不會獲得與未加入工會的員工相同的加薪。除非問題得到解決，否則NLRB的總法律顧問打算提出正式投訴。
儘管面臨這些挑戰，但一些專家認爲Chipotle仍然是一項強勁的投資。Hightower Advisors首席投資策略師兼投資組合經理斯蒂芬妮·林克表示，該公司最近的股票下跌提供了買入機會。
價格走勢：在盤後交易中，墨西哥Chipotle股價下跌0.48％，至55.50美元。在常規交易時段早些時候，該股收於55.77美元，當天下跌0.66％。根據Benzinga Pro的數據，今年迄今爲止，該股已飆升24.21％。
