Fred Turner was the CEO of the American restaurant industry, whose net worth at his death in 2013 was $ 150 million. He is best known as the CEO of McDonald's. He succeeds legendary McDonald's CEO / founder Ray Kroc. He also co-founded the Ronald McDonald House Charities.
He was the head of the American restaurant business. He was chairman and chief executive officer of McDonald's. He is credited with helping the massive development of McDonald’s, introducing new dishes, and enforcing service standards for the business and its employees. Fred Turner's biography, financial data and life details are published here. If you are ready to discover something new about this famous person, go ahead!
Fred Turner was born in Des Moines, Iowa, in January 1933 and died in January 2013. He graduated from Drake University and served in the United States Army. Turner began working as a grill operator at McDonald's in 1956. In 1958, he was Vice President of Operations for the company, setting strict guidelines for serving hamburgers and other foods, including french fries, which must be exactly 0.28 inches in diameter. Thickness. Turner has established the motto “Quality, Service and Cleanliness”. In 1967 he became Executive Vice President and in 1968 President and Managing Director. Fred Turner became CEO of McDonald's in 1973 and replaced Ray Kroc as President in 1977.
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In 1961, Fred founded what would later become the "Hamburger University" in the basement of a restaurant in Elk Grove Village, Illinois. Fast forward to the present and more than 5,000 owners and managers visit Hamburg University every year on a campus in a suburb of Illinois. Hamburg University is officially held at the Fred L. Turner Training Center in Illinois, but has offices around the world.
Turner started his career at McDonald's in 1956 as a grill operator and was quickly promoted. He was named vice president of operations in 1958, when the company had only 34 employees. In that role, he established strict guidelines on how McDonald's burgers and other products were to be served, including the fact that the fries "had to be a precise 0.28 inch thick" and that "from every pound of beef exactly ten meatballs had to be formed ".
"Quality, service and cleanliness" became his motto. He became executive vice president in 1967, then president and chief executive officer in 1968. he became CEO in 1973 and replaced Ray Kroc as president in 1977, later named senior president upon Kroc's death. Under Turner, McDonald's expanded its operations to 118 countries, with over 31,000 outlets, and more than a billion burgers were sold.
He retired in 2004, after which he held the position of Honorary President.
The year before Fred retired in 2003, a filing with the SEC showed that he owned 1.5 million shares in the company, which were worth approximately $22 million at the time. The stock exploded over the next decade. Assuming he had kept his entire stake, Fred's stock would have been worth around $150 million on the day of his death.
Fred Turner died on January 7, 2013 at the age of 80.
|75 years old
|October 16, 1943
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