OAK BROOK, IL--(Marketwire - Jan 7, 2013) - McDonald's

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2018
OAK BROOK, IL--(Marketwire - Jan 7, 2013) - McDonald's Corporation (NYSE: MCD) today announced that Fred L. Turner, Honorary Chairman of the Board of Directors and former Chief Executive Officer, passed away today from complications from pneumonia. He was 80 years old. "Fred was a true pioneer and shaped the quick service restaurant industry. We will remember his leadership, passion and dedication to McDonald's, our customers and our people," said Andy McKenna, Chairman of McDonald's Board of Directors. Turner is heralded as the architect of the "quality, service, and cleanliness" (QSC) restaurant operations model that launched McDonald's global presence and unparalled leadership in the industry. A native of Des Moines, Iowa, he was one of founder Ray Kroc's first employees in 1956, and then partnered with Kroc in building the McDonald's system. "Fred's contributions to McDonald's are immeasurable," said Don Thompson, McDonald's President and CEO. "For more than fifty years, he was dedicated to operations excellence, training and developing a great tasting menu. He worked side by side with Ray to open clean, welcoming restaurants where families could enjoy a high quality meal and a special time together. Our more than 34,000 restaurants around the world serve as a testament to Fred's business genius and his strong commitment to our customers. Fred was a dedicated family man, a savvy business leader, and a loyal friend. We will miss him tremendously." Turner became President and Chief Administrative Officer in 1968 and then was named McDonald's President and CEO in 1974. He was elected Chairman and CEO in 1977 and served in that capacity until 1987. He remained Chairman of the Board until 1990 when he was named Senior Chairman. He continued in that role until 2004 when he retired and became Honorary Chairman. Under Turner's leadership, McDonald's grew exponentially. Turner's most notable achievement was the significant domestic and international expansion of the company. During his tenure as CEO, McDonald's more than tripled the number of restaurants and opened dozens of new markets worldwide. First and foremost, Turner was a restaurant man. In the early years of McDonald's, Turner was often seen working side by side with the crew, teaching new staff his meticulous standards. In 1958, Turner authored the first Operations and Training Manual that continues to be the blueprint for restaurant operations today. In 1961, Turner spearheaded the creation of McDonald's Hamburger University, a rigorous training curriculum for managers, franchisees and company employees. Today, there are seven Hamburger Universities globally, including one at the company's home office in Oak Brook, Illinois, renamed the Fred L. Turner Training Center in 2004. "Fred was a passionate believer in training and development. He mentored and inspired so many of us," said Jeff Stratton, President, McDonald's USA. "Fred constantly raised the bar higher, and challenged our franchisees, suppliers and people to work together and continuously improve the customer experience in our restaurants." Turner served on the board of directors for Aon, Baxter, First Chicago (now J.P. Morgan Chase), Marshall Field's (now Macy's) and W.W. Grainger. Turner was widely recognized by his peers and received numerous awards and recognitions, including "Best Chief Executive" in the restaurant industry by The Wall Street Transcript in 1980, and "Ad Man of the Decade" by Advertising Age in 1990. In 1991, Turner received the Horatio Alger Award which honors outstanding Americans who exemplify dedication, purpose, and perseverance. He also received an honorary Dr. of Laws from Drake University in 1983. Turner had many diverse interests and supported countless philanthropic activities. He was a co-founder and life trustee of Ronald McDonald House Charities, dedicated to serving families of critically ill children and providing care to children in underserved communities. Turner and his late wife Patty were avid music lovers and he was a significant supporter of Drake University in Des Moines, endowing a professorship in jazz studies and the Fred and Patty Turner Jazz Center, which opened on campus in 2011. A self-described history buff, Turner was actively involved in multiple efforts to honor American veterans and educate future generations. He led the effort to create two aircraft exhibits at O'Hare International and Chicago Midway International Airports as a lasting tribute to the sacrifices made in World War II. In 2009, Turner also sponsored the restoration of an SBD Dauntless dive-bomber for the Pacific Aviation Museum in Honolulu, Hawaii. Turner is survived by three daughters, Paula Turner, Patty Sue (Bob) Rhea, Teri Turner and eight grandchildren. Funeral arrangements are pending. In lieu of flowers, the family has requested that contributions be sent to Ronald McDonald House Charities, or the Patty Turner Senior Center in Deerfield, IL. For a complete biography of Fred Turner and multimedia assets, please visit www.aboutmcdonalds.com McDonald's is the world's leading global foodservice retailer with more than 34,000 locations serving more than 69 million customers in 119 countries each day. More than 80% of McDonald's restaurants worldwide are owned and operated by independent local men and women. To learn more about the company, please visit www.aboutmcdonalds.com and follow us on Facebook (http://www.facebook.com/mcdonaldscorp) and Twitter (http://twitter.com/McDonaldsCorp) MEDIAHeidi Barker Sa Shekhem 630-623-3791Lisa Howard 630-623-5044

View More
Scroll down for more posts ▼

Top 10 Most Recent News Articles

D-Wave Quantum Faces Legal Heat: Key Investor Timelines

Updated Category News Views 134

Trouble Surfacing for D-Wave Quantum Investors It's another day, another dollar slipping out of an investor's pocket. Welcome to the circus. Today's main act? D-Wave Quantum, Inc., sporting a 9.51% drop in stock value. Now, those holding NASDAQ: QBTS shares during that class period between late February and August of 2026 might want to listen up. The lawyers over at...

Continue Reading
Nordic Chips Slash Power Use, Boost Edge AI on Wi-Fi

Updated Category News Views 107

Nordic Semiconductor's Cutting-Edge Leap Let's cut through the noise: Nordic Semiconductor's latest move in the wireless landscape is a big deal, especially if you're the sort counting beans down to the last cent. Their fresh-off-the-press nRF71 Series of Systems-On-Chip (SoCs) pulls off a neat trick: it delivers Wi-Fi, Bluetooth LE, Thread, and edge AI on one chip, and...

Continue Reading
Scrutinizing Mergers: Are Shareholders Getting a Raw Deal?

Updated Category News Views 69

Unpacking the Deals: Who's Really Benefiting? Alright, folks, here's the rundown. Mergers, acquisitions, and deals sometimes feel like walking into a poker game where you're the one who doesn't know the rules. Now, we’ve got Halper Sadeh LLC, a law firm that’s all about shareholder rights, poking their fingers into a few pies. They're looking into Surgery Partners...

Continue Reading
LUX Infusion Expands in Nebraska with New Acquisitions

Updated Category News Views 0

Strategic Expansion: LUX Infusion's Bold Move When it comes to healthcare, it's often about pulling the right strings at the right time, and today, LUX Infusion's got their timing spot on. They've swooped in with a savvy acquisition, taking over two key specialty infusion centers in Lincoln and Omaha. This isn't just a pencil-pusher's cynical corporate move; it's a push...

Continue Reading
VAB's Pharma Ad Guide: Emerging Trends and Insights

Updated Category News Views 25

Pharma's not just popping pills anymore; it's a whole show on multiscreen TV. The Video Advertising Bureau (VAB) just dropped a bombshell of a guide called The Pharmacy, diving into the state of pharmaceutical direct-to-consumer (DTC) advertising. Over the past year and a half, VAB's been grilling agencies, media folks, and anyone else with skin in the game to sketch the...

Continue Reading
Multiconsult's Q3 2026 Results: A Gradual Rebound

Updated Category News Views 14

Peering into the Q3 Crystal Ball When a company drops its quarterly results, it's like unveiling a new episode in an ongoing drama, and the Multiconsult ASA (Oslo: MULTI) saga is no exception. In their third quarter of 2026, the performance started to show signs of life following a somewhat sluggish run. While the numbers aren't sky-high, they're a solid indication that...

Continue Reading
Wolfbox Unveils High-Octane Gear at SEMA 2026

Updated Category News Views 88

Revving Up with Wolfbox's New Offerings There's an electrifying hum in the air, buzz-fueled by Wolfbox's latest gear debut at the SEMA Show 2026 in Las Vegas. The booth is a treasure trove for anyone keen on amping up their vehicle tech, with Wolfbox laying bare everything from dazzling dash cams to adaptive trail lights. It's the kind of smorgasbord that'd make a...

Continue Reading
Duni AB's 2027 AGM: Strategic Moves Amid Challenges

Updated Category News Views 36

Navigating Choppy Waters: Duni's Market Stance Ever have one of those days when the market just refuses to cooperate no matter how much you hustle? Duni AB knows the feeling all too well. As this Swedish outfit gears up for its 2027 AGM, they're grinding through an array of challenges as prickly as a porcupine. Here's the scoop: their interim report from earlier this year...

Continue Reading
Reju Partners with Six Mills to Advance Textile Regeneration

Updated Category News Views 153

Big Moves in Textile Regeneration Now here's a move that's got the fabric world buzzing: Reju, the scrappy textile-to-textile regenerative powerhouse, is teaming up with six mills spread across Europe and the U.S. They’re setting the stage to crank up their polyester recycling game and flood the market with sustainable, eco-friendly fabrics. It's a bold step toward...

Continue Reading
Lincoln Index Highlights Growth, But Risks Linger

Updated Category News Views 46

Private Market Dynamics: A Mixed Bag in Q3 The Lincoln Private Market Index (LPMI) is giving us quite the mixed message this quarter. Up by 2.8%, the index is applauding earnings growth in private companies. Not too shabby, right? Yet, let's not pop the champagne just yet. It's not all sunshine and roses—credit risk clouds are looming large. Steady Performers, but Not...

Continue Reading

Top 5 Most Recently Viewed Articles

TransUnion Sets Date for Q3 Financial Results Release

Updated Category News Views 57

TransUnion Set to Announce Third Quarter Earnings TransUnion (NYSE: TRU) is preparing to share its financial results for the third quarter. This announcement will come through a press release set for October 23. Investors and other interested individuals can anticipate this crucial update to be released around 6:00 a.m. Central Time (CT). Details of the Conference Call...

Continue Reading
Bitnomial Achieves Major Milestone with CFTC Approval to Innovate

Updated Category News Views 101

Bitnomial Achieves CFTC Approval to Launch Innovative Prediction Markets Bitnomial, Inc., a prominent U.S. derivatives exchange, has reached an exciting milestone in the world of finance. The Bitnomial Clearinghouse, LLC has successfully received approval from the Commodity Futures Trading Commission (CFTC) to offer fully-collateralized swaps, paving the way for the...

Continue Reading
TEN Ltd. Announces Quarterly Dividend for Preferred Shares

Updated Category News Views 65

TEN Ltd. Announces Significant Dividend on Preferred Shares TEN Ltd. is proud to announce that its Board of Directors has declared a regular quarterly cash dividend of approximately $0.59375 per share for its Series F Cumulative Redeemable Perpetual Preferred Shares. This announcement showcases the company’s commitment to delivering value to its shareholders. Details on...

Continue Reading
The Evolution of Payment Systems: What Investors Need to Know

Updated Category Business Views 855

Payment systems have evolved dramatically over centuries, transforming from simple barter exchanges to complex digital networks that facilitate instant global transactions. As financial technology continues to advance, investors must stay informed about these changes to identify emerging opportunities and navigate potential risks. Understanding how payment systems have...

Continue Reading
Yellowstone Bourbon Celebrates Major Milestone in Conservation Efforts

Updated Category News Views 92

Yellowstone Bourbon’s Commitment to National Park Preservation Yellowstone Bourbon has made a significant impact in the realm of environmental conservation by donating a remarkable total of $1 million to the National Parks Conservation Association (NPCA). This achievement reflects Yellowstone Bourbon’s dedication to preserving and protecting our cherished natural...

Continue Reading