Chipotle CEO discusses viral TikTok trend, company’s first-ever stock split

Chipotle CEO discusses viral TikTok trend, company’s first-ever stock split

“The whole thing is kind of crazy to me,” Niccol said. “It actually, kind of, really bums me out when people, frankly, do this videoing thing…It’s a little rude to our team members, and, you know, our team members, their desire is to give our customer a great experience.”

Chipotle wants to give customers what they want, Niccol said, be it extra-large meals, or ones that adhere to diets like vegetarian or keto. But he put to bed the idea that Chipotle would ever implement an all-you-can-eat option like other food chains, saying, “We’re not going all you can eat, we are going great ingredients, great culinary, great bowls.”

Niccol also discussed Chipotle’s first-ever stock split. The company announced a 50-for-1 split in March, with CFO Jack Hartung saying management wanted to make shares more accessible to employees and increase liquidity for investors. One Chipotle share is currently worth $3,072.85, and the split is expected to take effect in June.

According to Niccol, longtime employees have been able to make large purchases with their investments.

“There’s a lot more excitement when you can buy a whole share or get a couple shares,” Niccol said. “It’s great to see, because some folks…that have owned our stock and have been a manager for, you know, many years, they’re cashing it in to buy homes.”

Source Reference

Latest stories