Shake Shack announced that Randy Garutti, the company’s CEO, has informed the board that, after more than two decades in the company, he will retire in 2024 upon the selection of his successor. He will continue to lead the company as its CEO and as an executive board member through that time. The company intends to retain Garutti as an advisor following his CEO service through the end of 2024 to ensure a proper transition. The board of directors has launched an external search led by Korn Ferry to identify Garutti’s successor. The board of directors search committee will be led by chairman Danny Meyer and independent directors Chuck Chapman, Jeff Lawrence, Lori George, and Josh Silverman.
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