Chipotle President Jack Hartung is joining Portillo’s board.
It’s a somewhat unusual move, given that Chipotle and Portillo’s are fast-casual competitors, though very different concepts. But Portillo’s Board Chairman Mike Miles noted in the announcement that Hartung was introduced to the brand by Engaged Capital, a hedge fund and activist investor that last year said it would be taking “steps to unlock the intrinsic value” of Portillo’s business, including considering a possible sale. With the addition of Hartung, Portillo’s now has eight board members, seven of whom are independent.
“Jack Hartung has been a pioneer of the fast-casual restaurant sector and an architect behind one of its greatest success stories,” said Miles in a statement. “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.”
Jack Hartung | Photo courtesy of Portillo's.
The Newport Beach, California-based Chipotle, where Hartung is president and chief strategy officer and previously served as CFO for almost two decades, is known for its burritos and bowls. The chain has more than 3,600 units across the U.S., Canada, Europe and the Middle East.
Chicago-based Portillo’s, meanwhile, has a much broader menu that includes hot dogs, Italian beef sandwiches, burgers, salads and its iconic chocolate cake. Portillo’s has about 90 restaurants across 10 states and is pushing growth across the sunbelt.
Hartung, however, noted that he is originally a Chicagoan who grew up with Portillo’s.
“Growing up in the Chicago suburbs, I’ve long admired Portillo’s commitment to quality food and exceptional service,” said Hartung in a statement. “I’ve watched as they’ve successfully transformed from a Chicago icon into a national brand, while maintaining their high standards and unique culture. I look forward to joining the board and helping write the next chapter of the Portillo’s story.”
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