Tesla Appoints Chipotle's Ex-President Jack Hartung To Board

Tesla has announced the appointment of Jack Hartung, the of Chipotle Mexican Grill, to its Board of Directors. Hartung, who brings over two decades of experience in finance, strategy, and operations, will officially join Tesla on June 1. His role will include serving as a director and member of the board's audit committee.

Hartung's extensive background includes serving as CFO, President, and Chief Strategy Officer at Chipotle, where he was responsible for finance, accounting, supply chain, strategy, and safety and asset protection. Prior to his tenure at Chipotle, Hartung spent nearly 20 years at McDonald’s, holding positions such as VP and CFO of the restaurant chain’s partner brands group.

Hartung's appointment is timely as Tesla is gearing up to launch several significant projects, including a 1950s-style diner and charging station in Los Angeles. His expertise in the food and beverage industry is expected to provide valuable strategic insights and a network of contacts that could benefit Tesla's initiatives in this area.

Tesla has also disclosed a related-party transaction, noting that Hartung's son-in-law has worked as a Tesla service technician since December 2016 and received a salary in line with the company’s standard compensation practices.

Hartung will begin his duties on the board, including on the audit committee, effective June 1. He has waived his ability to collect cash compensation, as well as his equity compensation, aligning with the practices of other board members. This move underscores Tesla's commitment to bringing in experienced executives who can contribute to the company's growth and strategic direction.