Chipotle Mexican Grill's Finance Chief Jack Hartung Retires; Adam Rymer Named Successor
Chipotle Mexican Grill (NYSE: CMG) announced on Tuesday that its long-time finance chief, Jack Hartung, will be retiring from his role effective March 31. Adam Rymer, who has been with the company for 15 years and most recently served as vice president of finance, will be taking over as CFO starting January 1.
Hartung has been Chipotle's CFO since 2002 and has been instrumental in the company's growth over the years. Under his leadership, Chipotle has expanded extensively and implemented innovative automation technologies, such as automated avocado processors and robotic dual-sided grills.
"I started working with Chipotle when there were less than 200 restaurants, and with over 3,500 today, I'm confident Chipotle has a long runway of profitable growth ahead," said Hartung in a statement.
In addition to the CFO transition, Chipotle also announced that Jamie McConnell will be assuming the role of chief accounting and administrative officer on January 1.
Following the news, shares of Chipotle were marginally down in extended trading after closing down 3.4% on Tuesday.
In conclusion, the retirement of Jack Hartung as Chipotle's finance chief marks a significant change in the company's leadership. Adam Rymer's appointment as CFO signals a new chapter for Chipotle's financial strategy. Investors should keep an eye on how these changes may impact the company's performance and stock price in the coming months.