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Chipotle ( CMG ) CEO Scott Boatwright cut a big figure when he looked at workers at the New York City store last Friday.
The manager of the restaurant was eager to see him and tell him how the operation was going. What looked like an investor in a black vest randomly approached Boatwright and said he knew him.
It was all about Boatwright’s day, an active weightlifter with a linebacker’s frame, a high-wattage smile, and the looks of an OG Abercrombie & Fitch model.
He told me about the bag of chips and guac that he was exploring adding desserts to the menu somehow. Breakfast is no longer served, as it can involve work. Expect a big push in cooking. He lights up when I ask how fast the lines are at peak times. (Very quickly.)
And he’s had enough of the idea that Chipotle is too expensive.
“We have an affordable price for all walks of life, and it’s for everyone. We want everyone to have access to healthy, nutritious food,” Boatwright told Power Players (video above; listen below).
He also had the idea that Chipotle was cutting back on its popular sizes in order to squeeze out its profits.
“You have to ask for a little more,” she said. “It’s always been our brand ethos, and it still is today. We serve big, good bowls and burritos. Full stop, no questions asked. If you want more, just ask a crew member. I promise you there’s not a crew member in that line who will say no.”
Boatwright was officially named CEO of Chipotle in late 2024 after serving as COO for seven years. He began his rise to interim CEO when his former boss, Brian Niccol, shocked the restaurant industry by taking the CEO job at Starbucks (SBUX).
During his tenure as COO, Boatwright was a key architect of Chipotle’s digital transformation, overseeing the rollout of “Chipotlanes” and advanced kitchen technology to improve service speed.
Before joining Chipotle in 2017, Boatwright spent 18 years at Arby’s Restaurant Group, where he rose to senior vice president of operations and was credited with revitalizing the brand’s work culture.
All of Boatwright’s experience is being tested at Chipotle, where growth has slowed since its heyday. Chipotle stock is down 35% in the past year.
Chipotle delivered a mixed but better-than-expected first quarter after a challenging 2025. Total revenue grew 7.4% to $3.1 billion, driven primarily by new restaurant openings and a 0.5% increase in same-store sales. Higher transaction volume of 0.6% was partially offset by a slight dip in the average check.
The first-quarter same-store sales result marked an improvement from a 2.5% decline in the fourth quarter and a 0.4% decline in the first quarter of last year.
Management maintained a strong full-year outlook, predicting same-store sales will remain roughly flat in 2026. Second-quarter same-store sales are expected to increase 1% among the most sought-after styles in April.
To spur growth, Chipotle is testing $2.50 tacos soon after rolling out the protein-packed snack cups in December. Customers can purchase a four-ounce cup of chicken adobo or steak – the national weighted average price for a cup of chicken is $3.82.
After ditching the well-received chimichurri dipping sauce for a quarter, down the cilantro sauce for an even better performance.
“The measures to strengthen sales seem to be working,” said Evercore ISI analyst David Palmer.
This quarter, Chipotle introduced its popular honey chicken and is looking at limited-time offerings later this year.
“I think what those things did for us, it brought customers back to our restaurant and reminded them why they loved this brand so much,” Boatwright said.
Brian Sozzi is the Editor-in-Chief of Yahoo Finance and a member of the Yahoo Finance editorial team. Follow Sozzi on X @BrianSozzi, Instagramagain LinkedIn. Tips for news? Email brian.sozzi@yahoofinance.com.
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