Fred Turner was a senior executive in the American restaurant business best known for leading McDonald’s. He succeeded Ray Kroc, the late founder and CEO of McDonald’s. Additionally, he was a founding partner of the Ronald McDonald House Charities.
Fred Turner Biography And Net Worth
|Net Worth(at the time of death)||150 Million Dollars|
|Date of Birth||January 6, 1933|
|Age(at the time of death)||80 Years|
|Died||January 7, 2013|
|Birth Place||Des Moines, Iowa, United States|
|Spouse||Patricia A. Turner (m. 1954–2000)|
|Education||Drake University (1954), Dowling Catholic High School|
|Profession||American restaurant industry executive, CEO and chair of McDonald’s|
Fred Turner Early Life
Fred Turner was born in 1933 in Des Moines, Iowa. He was the son of a bread salesman. He had various jobs as a teenager to support his family, such as delivering dry cleaning and working as a drugstore clerk. He studied at Drake University, graduating in 1954 with a bachelor’s degree. He joined the US Army after finishing college. He spent two years in the army and reached the rank of corporal. Following his service there, Ray Kroc, the renowned founder of McDonald’s, employed Turner in 1956. Turner had initially aspired to have his own franchise, but Kroc wanted him to work in corporate.
Fred Turner Career
In 1956, Turner started working at McDonald’s as a grill operator and was soon promoted. When the company had just 34 employees in 1958, he was designated vice president of operations. He set up stringent rules for how McDonald’s hamburgers and other products had to be served. The phrase “Quality, Service and Cleanliness” was coined by Turner. He rose to the positions of Executive Vice President in 1967 and President and Chief Administrative Officer in 1968. In 1973, Fred Turner was appointed CEO of McDonald’s. Later, in 1977, he succeeded Ray Kroc as chairman. He was eventually given the title of Senior Chairman. More than 31,000 locations and 118 countries were added to McDonald’s operations during Turner’s tenure. In the basement of a restaurant in Elk Grove Village, Fred established what is now known as “Hamburger University”.
Today, Hamburger University is attended by more than 5,000 owners and managers annually. Although it has branches all around the world, Hamburger University is officially located in the Fred L. Turner Training Center in Illinois. Turner served as a director for the Aon Corporation, Baxter International and W. W. Grainger. In 1991, he was given the Horatio Alger Award. He was a part of Sigma Phi Epsilon and the Bohemian Club. After his retirement from MacDonald’s in 2004, he continued to serve as Honorary Chairman.
Fred Turner Wife
Not long after graduating from college, Turner married fellow Drake alumnus Patricia Shurtleff on June 22, 1954. Patricia passed away on October 9, 2000.
Fred Turner Net Worth
Fred owned 1.5 million shares of company stock in 2003, a year before his retirement. Fred’s net worth, at the time of his death, was $150 million assuming he kept on to his entire ownership.
Fred Turner Body Features