Chipotle CEO discusses viral TikTok trend, company’s first-ever stock split

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In a Wednesday interview with CNBC’s Jim Cramer, Chipote CEO Brian Niccol addressed a recent TikTok trend that claims the fast food chain is skimping on portion sizes.

Dubbed the “Chipotle phone method,” the trend involves some users on Tiktok filming Chipotle workers as they get orders ready in order to receive more toppings.

“The whole thing is kind of crazy to me,” Niccol said. “It actually, kind of, really bums me out when people, frankly, do this videoing thing…It’s a little rude to our team members, and, you know, our team members, their desire is to give our customer a great experience.”

Chipotle wants to give customers what they want, Niccol said, be it extra-large meals, or ones that adhere to diets like vegetarian or keto. But he put to bed the idea that Chipotle would ever implement an all-you-can-eat option like other food chains, saying, “We’re not going all you can eat, we are going great ingredients, great culinary, great bowls.”

Niccol also discussed Chipotle’s first-ever stock split. The company announced a 50-for-1 split in March, with CFO Jack Hartung saying management wanted to make shares more accessible to employees and increase liquidity for investors. One Chipotle share is currently worth $3,072.85, and the split is expected to take effect in June.

According to Niccol, longtime employees have been able to make large purchases with their investments.

“There’s a lot more excitement when you can buy a whole share or get a couple shares,” Niccol said. “It’s great to see, because some folks…that have owned our stock and have been a manager for, you know, many years, they’re cashing it in to buy homes.”