Chipotle’s recently named chief restaurant officer, Scott Boatwright, is taking the role as principal operating officer, according to an SEC filing. The longtime Arby’s executive, who last served as senior vice president of operations and spent 17 years with the company in various roles, joined Chipotle in May. Boatwright has now assumed direct accountability for all restaurant operations.
The filing says that Boatwright is an at-will employee without a formal employment contract. The terms of his employment, it says, entitle him to an annual base salary of $410,000 per year, with a target bonus under Chipotle’s Annual Incentive Plan of 65 percent of his base salary.
Boatwright also receives a car allowance of $1,350 per bi-weekly pay period, as well as certain relocation benefits in connection with his move to Chipotle’s Denver base.
“We have also entered into an Executive Agreement with Scott, pursuant to which he would be entitled to up to 12 months of base salary in the event his employment with us is terminated without cause prior to the second anniversary of his commencement of employment, with the number of months of severance payable phasing out ratably from the first to second anniversary of his commencement of employment,” the filing said.
Boatwright began his career at Arby’s in 1997. As senior vice president of operations, a job he held for the last six years, he was responsible for the success and performance of nearly 2,000 franchised and company-owned restaurants across 22 states.