Adam Rymer, who was originally set to take the CFO position at Chipotle in January following the retirement of the company’s longtime finance chief, Jack Hartung, will now take the position on Oct. 1, according to a company announcement. The decision comes just weeks after their former CEO, Brian Niccol, announced he would be leaving the company for the CEO position at Starbucks.
Chipotle’s response to Niccol’s departure, which was announced shortly after Hartung announced his retirement and subsequent succession plans, has also included putting its former CFO’s retirement on pause. Hartung will serve as president and chief strategy officer, beginning on the same day Rymer will begin his CFO tenure.
Jamie McConnell, formerly the company’s vice president and controller, will also be expedited to the chief accounting and administrative officer position, a promotion she received in conjunction with Rymer’s CFO appointment. Like Rymer and Hartung, she too will begin her new role on the first day of the year’s final quarter.
The move has inspired the company to create succession plans for all of their executives, an approach that even organizations with 20-plus year tenures across their leadership teams have said is necessary for a large organization to function.
Niccol’s sudden departure after Hartung’s retirement announcement demonstrates the speed at which a company with a seemingly solid leadership structure can quickly face challenges if plans are not in place.
Scott Boatwright, the company’s current interim CEO, will likely work with Hartung on finding the organization’s next leader or preparing to take the role himself. According to the company, Boatwright’s role as chief operating officer involved leading the way in the company’s digital transformation efforts, something Hartung told CFO.com was pivotal to the company’s success now and in the future.
“There’s tremendous growth opportunity ahead for Chipotle, and I look forward to delivering on our strategic priorities and driving value for our guests, our employees and our shareholders,” Rymer said in a statement. “For well over a decade, I’ve had the privilege of supporting one of the leading and longest-tenured CFOs in the business.”
