Tesla said on Friday it has appointed Jack Hartung, the former longtime chief financial officer of Chipotle Mexican Grill, to its board of directors, effective June 1.
Hartung, who joined Chipotle in 2002 and served as CFO for more than two decades, most recently held the role of President and Chief Strategy Officer at the restaurant chain.
He will retire from his executive position on June 1 and transition to a senior advisory role, Chipotle previously announced.
During Hartung’s tenure, Chipotle “has seen significant growth with over 3,700 restaurants today across the United States, Canada, the United Kingdom, France, Germany, Kuwait and the United Arab Emirates” — Tesla said in a statement.
The company highlighted that the executive was twice recognized for his work in finance, including being named “CFO of the Year” by the Orange County Business Journal and best CFO in the restaurant category by Institutional Investor.
Hartung currently serves on the boards of Portillo, The Honest Company and privately held healthcare platform ZocDoc.
Tesla’s board has undergone a number of changes in recent years amid growing scrutiny over governance practices at the electric vehicle maker.
Hartung’s appointment adds a seasoned executive with experience in global operations, finance, and strategy to the boardroom.
JP Morgan Chase increased its stake in Tesla by 9.5% (or 3.43 million shares) in the first quarter, a new 13F filing with the SEC showed
The asset manager held 39,415,548 shares in the U.S. EV maker by the end of March — a position worth $13.70 billion.
Goldman Sachs, which ranks 11th, more than doubled its stake in the brand between January and March, the highest level since it first invested in the electric carmaker in 2013.
This week, Nuveen revealed in its 13F filing that it opened a position in the company with over 12.53 million shares in the first quarter, jumping to its top 30 largest institutional investors.
