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

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

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

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