US-based fast-casual restaurant chain Shake Shack has announced that its CEO Randy Garutti will retire next year.

Garutti informed the Shake Shack board of his decision and the board has begun the search for a new CEO.

Shake Shack founder and board chairman Danny Meyer stated: “I have had the privilege and pleasure of working with Randy since he first joined Union Square Hospitality Group 24 years ago as our youngest ever general manager for Tabla and Union Square Café, and next as director of operations for all of USHG’s acclaimed fine dining restaurants.

“He developed a devoted and avid following among our team members as an exceptional leader who always led his businesses with enlightened hospitality.

“Now, nearly 20 years and over 500 Shacks later, Randy has more than earned the richly-deserved opportunity to think about his next act.”

Garutti will continue to lead the company as its CEO and remain an executive board member until the new CEO is appointed.

To ensure a smooth transition, the company intends to retain him as an advisor.

Garutti commented: "It has been my honour to lead the talented Shake Shack team from our humble beginnings as a hot dog cart in Madison Square Park in New York City to the public company we are today.

“Together, we have achieved more than anyone dreamed, delighting communities across 18 countries, 33 states and more than 500 Shacks, while targeting to surpass $1bn in revenue this year.

“I will continue to lead Shake Shack through the search for a new CEO. Our seasoned leadership team is exceptional and well-positioned to deliver on our ambitious plans.”

In September 2023, Shake Shack deployed Harri’s scheduling and timekeeping system across 305 of its US restaurants.