Chipotle appoints a new CEO

Article Excerpt

CHIPOTLE MEXICAN GRILL, $58.88, is a buy. The company (New York symbol CMG; TSINetwork Rating: Extra Risk) (Shares outstanding: 1.4 billion; Market cap: $80.2 billion; No dividends paid) recently lost CEO Brian Niccol to Starbucks, where he has taken over as its CEO. Meanwhile, Chipotle has just announced its new CEO as Scott Boatwright. Prior to that, Boatright served as chief operating officer at Chipotle, beginning in 2017. Notably, Boatwright was instrumental in leading technology developments at the chain’s restaurants. That’s a plus as the company further develops technology, including use of robots to expand labour productivity. Chipotle Mexican Grill is a buy. buy…