Chipotle Mexican Grill, Inc. announced Monday that Scott Boatwright, who served as interim CEO since August, will permanently lead the fast-casual restaurant chain with a compensation package valued less than half of his predecessor's pay.

Chipotle appoints Scott Boatwright as permanent CEO, reinforcing operational stability after Brian Niccol's departure. Shares gain following the transition.

The operations specialist was named interim chief executive in August, replacing Brian Niccol at the fast-casual chain after his departure

Chipotle’s new chief executive is Scott Boatwright, a familiar face and name, given that he’s served as the interim CEO since August following former CEO Brian Niccol’s surprise decision to lead a turnaround at Starbucks.

Key Takeaways Chipotle stock was recently up more than 1%, rising as broader markets retreated, as investors digested the news that Scott Boatwright was named CEO full-time. Boatwright has been interim CEO since August and with the company since 2017.

Chipotle Mexican Grill appointed Scott Boatwright as its permanent CEO, filling the role after Brian Niccol's departure to lead Starbucks. Boatwright, who joined Chipotle in 2017 after eighteen years with Arby’s,