Chipotle 2012 Annual Report Download - page 101

EXECUTIVE OFFICERS AND COMPENSATION
EXECUTIVE OFFICERS
In addition to Steve Ells, our Chairman of the Board and Co-Chief Executive Officer, and Monty Moran,
our Co-Chief Executive Officer, each of whose biographies are included under the heading “Information
Regarding the Board of Directors,” our executive officers are as follows:
John R. (Jack) Hartung, 55, is Chief Financial Officer and has served in this role since 2002. In addition to
having responsibility for all of our financial and reporting functions, Mr. Hartung also oversees IT; safety,
security and risk; and compensation and benefits. Mr. Hartung joined Chipotle after spending 18 years at
McDonald’s where he held a variety of management positions, most recently as Vice President and Chief
Financial Officer of its Partner Brands Group. Mr. Hartung has a Bachelor of Science degree in accounting and
economics as well as an MBA from Illinois State University.
Robert (Bob) N. Blessing Jr., 69, was appointed Chief Development Officer as of February 1, 2010.
Mr. Blessing came to Chipotle in 1999 as a regional director, and opened our first restaurant in the Northeast
region. His role expanded thereafter to include responsibility for additional markets, and from 2005 to 2008 he
led our entire Northeast and Central regions. From May 2008 though February 1, 2010, he served as our
Restaurant Support Officer, providing field support for our marketing as well as overseeing our five regional
directors and our purchasing function. Before coming to Chipotle, he served in executive leadership roles at a
number of food service and restaurant companies, including Vie de France Retail and Restaurant Bakery,
Franchise Management Corporation (an Arby’s franchisee), and Thompson Hospitality (a contract food service
company). Mr. Blessing has Bachelors and Masters degrees in business administration/economics from the
University of Cincinnati.
Mark Crumpacker, 50, was appointed Chief Marketing Officer in January 2009. From December 2002 until
December 2008 Mr. Crumpacker was Creative Director for Sequence, LLC, a strategic design and marketing
consulting firm he co-founded in 2002, and prior to that served as creative director and in other leadership roles
for a variety of design and media companies. Mr. Crumpacker attended the University of Colorado and received
his B.F.A. from the Art College of Design in Pasadena, California.
COMPENSATION DISCUSSION AND ANALYSIS
This Compensation Discussion and Analysis describes the objectives and principles underlying our
executive compensation programs, outlines the material elements of the compensation of our executive officers,
and explains the Compensation Committee’s determinations as to the actual compensation of our executive
officers for 2012. In addition, this Compensation Discussion and Analysis is intended to put into perspective the
tables and related narratives which follow it regarding the compensation of our executive officers.
Executive Summary
The fundamental aim of our executive compensation program is to reward our executive officers for the
creation of shareholder value. The Compensation Committee of our Board seeks to achieve this objective through
a program consisting of the following principal components:
• Base salaries, which are determined subjectively based on each executive’s contributions, individual
performance, and level of experience;
• Annual cash bonuses determined under our company-wide Annual Incentive Plan, or AIP, which
provides for variable payouts based on achievement against a number of operating and financial
performance goals approved by the committee at the beginning of each year, as well as subjective
evaluations of individual performance; and
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Proxy Statement