Shake Shack Inc. is on the lookout for a new chief executive officer. That’s because Randy Garutti, the chain’s current CEO, told Shake Shack’s board of directors he intends to retire in 2024 once the company identifies his successor.
Garutti has been with Shake Shack since its inception in 2004. He joined Union Square Hospitality Group 24 years ago, working as a general manager for Tabla and Union Square Café. Garutti would eventually become director of operations for all of USHG’s fine-dining restaurants.
In 2001, USGH launched a hot dog cart out of its Eleven Madison Square Park location. Three years later, USHG turned that cart into Shake Shack, a kiosk in New York City’s Madison Square Park under Garutti’s leadership. USHG would eventually take Shake Shack public in 2015.
Today Shake Shack has more than 500 units spread across 18 countries and 33 states, per a company release. And it’s on track to exceed $1 billion in annual revenues for its fiscal year ending December 27, 2023.
