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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Chipotle Mexican Grill Inc | NYSE:CMG | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-2.16 | -3.74% | 55.58 | 57.39 | 55.27 | 57.00 | 9,180,148 | 18:26:42 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On July 8, 2024, Jack Hartung notified Chipotle Mexican Grill, Inc. (“Chipotle”) of his decision to retire from Chipotle, effective March 31, 2025. Mr. Hartung currently serves as Chipotle’s Chief Financial and Administrative Officer and as Chipotle’s principal accounting officer, and has served as Chipotle’s Chief Financial Officer since 2002.
Adam Rymer, a 15-year Chipotle veteran, will assume the role of Chief Financial Officer, beginning January 1, 2025. Mr. Rymer, 42, joined Chipotle in 2009 and currently serves as Vice President of Finance and oversees Chipotle’s Corporate Finance, Field Finance and Investor Relations functions. During his entire tenure at Chipotle, he has reported directly or indirectly to and been mentored by Jack Hartung and has held a variety of finance positions of increasing responsibility.
Mr. Hartung will continue in his current position through the end of the year and will remain with Chipotle until March 31, 2025 to help ensure a smooth transition.
In addition, Jamie McConnell will assume the role of Chipotle’s Chief Accounting and Administrative Officer on January 1, 2025, reporting to Mr. Rymer. Since joining Chipotle in 2018, Ms. McConnell, 45, has reported directly to and been mentored by Jack Hartung. She currently serves as Vice President, Controller, with responsibility for the Corporate Accounting, Financial Reporting, Tax, Internal Audit, Accounting Shared Services, Licensing and Payroll functions.
No adjustments will be made to Mr. Rymer’s or Ms. McConnell’s compensation at this time. There is no arrangement or understanding between Mr. Rymer or Ms. McConnell and any other person pursuant to which either will be appointed; there are no family relationships, as defined in Item 401 of Regulation S-K, between either Mr. Rymer or Ms. McConnell and any of Chipotle’s executive officers or directors; and there are no transactions in which either Mr. Rymer or Ms. McConnell has an interest requiring disclosure under Item 404(a) of Regulation S-K.
Item 7.01 | Regulation FD Disclosure. |
On July 9, 2024, Chipotle issued a press release announcing the changes described above. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
The information in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
Exhibit |
Exhibit Title or Description | |
99.1 | Press release issued by Chipotle Mexican Grill, Inc. on July 9, 2024 | |
104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
July 9, 2024 | Chipotle Mexican Grill, Inc. | |||||
By: | /s/ Roger Theodoredis | |||||
General Counsel & Chief Legal Officer |
Exhibit 99.1
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NEWS Contact: Laurie Schalow (949) 524-4035 MediaRelations@chipotle.com |
CHIPOTLE ANNOUNCES RETIREMENT OF CFO JACK HARTUNG IN 2025
CHIPOTLE VETERAN ADAM RYMER NAMED SUCCESSOR
NEWPORT BEACH, Calif., July 9, 2024 Chipotle Mexican Grill (NYSE: CMG) today announced that after nearly 25 years with the Company, Jack Hartung has decided to retire effective March 31, 2025. Hartung has served as Chief Financial Officer since 2002.
The Company also reported that Adam Rymer, a 15-year Chipotle veteran will assume the role of Chief Financial Officer, beginning January 1, 2025. Rymer joined Chipotle in 2009 and currently serves as Vice President of Finance, overseeing its Corporate Finance, Field Finance and Investor Relations functions. During his entire tenure at Chipotle, he has reported directly or indirectly to and been mentored by Hartung, as well as held a variety of finance positions of increasing responsibility. Rymer will serve on Chipotles executive leadership team and report to Brian Niccol, Chairman and Chief Executive Officer. Hartung will continue in his current position through the end of the year and will remain with the Company until March 31, 2025 to help ensure a smooth transition.
I want to thank Jack for his friendship, leadership, and many contributions to Chipotle, said Brian Niccol, Chairman and CEO. Jack is one of the best CFOs in the business, and he has played an instrumental role in helping Chipotle deliver unprecedented growth while building our culture and multiple, strong teams with deep expertise. Im also pleased to have Adam Rymer succeed Jack as CFO which is a testament to our strong talent bench and thoughtful succession planning. I am confident he is the right leader to take on this important role and continue to deliver on our purpose, culture and financial success.
Hartung stated, It has truly been an honor and a privilege to serve as Chipotles CFO and deliver on our purpose of Cultivating a Better World. I have been fortunate to work for such a great brand with amazing people, and I am proud of the significant impact we have made on elevating food culture, as well as successfully driving our compelling growth strategy and unlocking considerable shareholder value over the years. I started working with Chipotle when there were less than 200 restaurants, and with over 3,500 today, Im confident Chipotle has a long runway of profitable growth ahead led by the best team in the industry.
Ive had the privilege of working with Adam Rymer for the last 15 years and I am confident that his deep understanding of Chipotle and the restaurant industry, coupled with his strong financial and senior leadership experience, will help to ensure Chipotles future success, Hartung added.
NEWS
Contact: Laurie Schalow
(949) 524-4035
MediaRelations@chipotle.com
In addition, Jamie McConnell will assume the role of Chief Accounting and Administrative Officer on January 1, 2025, reporting to Rymer. Since joining Chipotle in 2018, McConnell has reported directly to and been mentored by Hartung. She currently serves as Vice President, Controller, with responsibility for the Corporate Accounting, Financial Reporting, Tax, Internal Audit, Accounting Shared Services, Licensing and Payroll functions. McConnells breadth of finance experience and Chipotle tenure will further support a smooth transition.
Jamie has provided great leadership, built strong teams, and has taken on increasingly challenging responsibilities since she joined Chipotle. I have complete confidence that Adam and Jamie, along with a deep bench of financial and accounting talent, will help take Chipotle to the next level in the coming years, added Hartung.
About Chipotle
Chipotle Mexican Grill, Inc. (NYSE: CMG) is cultivating a better world by serving responsibly sourced, classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. There are nearly 3,500 Chipotle restaurants in the United States, Canada, the United Kingdom, France, Germany, and Kuwait and it is the only restaurant company of its size that owns and operates all its restaurants in North America and Europe. Chipotle is ranked on the Fortune 500 and is recognized on Fortunes Most Admired Companies 2024 list and Time Magazines Most Influential Companies. With over 120,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry. Chipotle is committed to making its food more accessible to everyone while continuing to be a brand with a demonstrated purpose as it leads the way in digital, technology and sustainable business practices. For more information or to place an order online, visit WWW.CHIPOTLE.COM.
Document and Entity Information |
Jul. 08, 2024 |
---|---|
Cover [Abstract] | |
Entity Registrant Name | CHIPOTLE MEXICAN GRILL INC |
Amendment Flag | false |
Entity Central Index Key | 0001058090 |
Document Type | 8-K |
Document Period End Date | Jul. 08, 2024 |
Entity Incorporation State Country Code | DE |
Entity File Number | 1-32731 |
Entity Tax Identification Number | 84-1219301 |
Entity Address, Address Line One | 610 Newport Center Drive |
Entity Address, City or Town | Newport Beach |
Entity Address, State or Province | CA |
Entity Address, Postal Zip Code | 92660 |
City Area Code | (949) |
Local Phone Number | 524-4000 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Security 12b Title | Common stock, par value $0.01 per share |
Trading Symbol | CMG |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
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1 Month Chipotle Mexican Grill Chart |
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