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

Chipotle’s new chief executive is Scott Boatwright, a familiar face and name, given that he’s served as the interim CEO since August following former CEO Brian Niccol’s surprise decision to lead a turnaround at Starbucks.

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.

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

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.

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’s board of directors officially appointed Scott Boatwright as chief executive officer on Monday. Boatwright had been serving in an interim role following the abrupt departure of former CEO Brian Niccol,

Chipotle Mexican Grille has appointed Scott Boatwright as its permanent CEO, to contribute to the company's strategy and growth.