CMG Changes
Chipotle’s Chief Development Officer Tabassum Zalotrawala wrote in a LinkedIn post on Sunday that she has resigned.
Unit growth is an important part of the CMG story, and based on yesterday's LTO press release highlighting the CMG global launch of Chicken Al pastor, the company might be looking for a new chief development officer with international experience. In addition to leading the development of a Chipotlane strategy, Zalotrawala said she also oversaw the Development Center of Excellence, which provides restaurant design, concept, and innovation for Chipotle. During her tenure, Chipotle built roughly 750 units in North America since 2019, she said. The company is in the initial stages of testing new kitchen equipment, including a new grill and automated digital makeline with Hyphen, an automated tortilla chip maker, and location-based technology. Chipotle confirmed Zalotrawala has resigned and said the company is looking for a replacement.
In other news, CEO Brian Niccol has sold 6,627 shares of CMG for $10.8 million since the beginning of 2023.
Sold to you RRGB
In March, three insiders bought stock Chief People officer, Chief Legel officer, and the CEO for around $11.50
The latest transaction was CEO GJ Hart buying 25K shares at $11.99 and now beneficially owns 183,656 shares following the transaction.
SBUX and DASH
I guess there is a big market for this, but I don't get it.
SBUX and DASH entered a new partnership to offer on-demand delivery of Starbucks at participating locations in Canada. Beginning March 14, DoorDash customers will be able to take delivery of Starbucks favorites from more than 500 stores. The new partnership also expands Starbucks Delivers to nearly 50 new communities for the first time, including Saint John, New Brunswick, Squamish, British Columbia, and the province of Prince Edward Island. In Canada, customers can access Starbucks Delivers via the DoorDash app DoorDash.com. "Delivery remains a major growth opportunity for Starbucks, and our new partnership with DoorDash will help us reach even more Starbucks customers from coast-to-coast," said Lori Digulla, General Manager, Starbucks Canada.
