CHAIRMAN, CEO, CHIPOTLE MEXICAN GRILL, NEWPORT BEACH
Heads OC’s No. 2 restaurant chain, with over $7.5B in systemwide sales last year, and over 3,000 locations. A longtime marketer who learned the retail business at Proctor & Gamble Co., and the restaurant business at Taco Bell.
THEN: Joined Chipotle in 2018, after the burrito chain’s sales and stock price had taken a hit after a series of food-safety scares. Immediately moved headquarters from Denver to OC.
NOW: Stocks up nearly fivefold since his hiring; has overseen one of industry’s largest turnarounds in recent years. Chipotle now OC’s second-most valuable company with market cap near $40B.
FUTURE: Aims to build restaurant count to 7,000. Launching a new $50M venture fund, Cultivate Next, which will provide early stage investments to companies that align with Chipotle’s mission, it says. Funds will support Series B stage companies that can help accelerate Chipotle’s strategic priorities, which include improving operations, increasing the use of technology, advancing its Food With Integrity mission and increasing convenience for consumers, it says.
IN THEIR WORDS: Said during recent earnings call that “you will likely see us increasing technology enablement for our restaurants and support centers to amplify innovation, enhance the customer experience and optimize efficiencies to improve operational execution.”
