Chipotle's shares rose Tuesday as investors digested the news that the fast-casual chain had formally named Scott Boatwright its CEO.

Chipotle Mexican Grill (NYSE: CMG) today announced that after a robust and thorough process, its Board of Directors has appointed Scott Boatwright as chief executive officer and a member of the board,

Chipotle appoints Scott Boatwright as permanent CEO, reinforcing operational stability after Brian Niccol's departure. Shares gain following the transition.

Chipotle is in the middle of a leadership shift after the former CEO vacated the position, allowing Scott Boatwright to take on the role permanently.

Boatwright, who has been interim CEO since August, said on an earnings call that the chain will continue its current strategies and focus on operational efficiency.

The operations specialist was named interim chief executive in August, replacing Brian Niccol at the fast-casual chain after his departure

Chipotle Mexican Grill, Inc. announced Monday that Scott Boatwright, who served as interim CEO since August, will permanently lead the fast-casual restaurant chain with a compensation package valued less than half of his predecessor's pay.

Chipotle Mexican Grill appointed Scott Boatwright as its permanent CEO, filling the role after Brian Niccol's departure to lead Starbucks. Boatwright, who joined Chipotle in 2017 after eighteen years with Arby’s,