Portillo's appoints Chipotle executive to board, shares see uptick

Investing.com -- Shares of Portillo's, a fast-casual restaurant operator, experienced a rise of up to 4.7% following the company's announcement that it appointed Jack Hartung to its board of directors.

Hartung currently holds the position of president and chief strategy officer at Chipotle (NYSE:CMG ) and his appointment at Portillo's is effective immediately.

Hartung brings to Portillo's his expertise in driving operating excellence and developing restaurants with superior cash-on-cash returns at Chipotle.

"His experience driving operating excellence and developing restaurants with best-in-class cash-on-cash returns with Chipotle will be invaluable to Portillo's as we accelerate our growth in new markets across the country," Mike Miles, Portillo's Chairman of the Board of Directors, said in a press release.

With the addition of Hartung, Portillo’s Board now comprises eight directors, seven of whom are independent, the company said.

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Source: Investing.com