Business: The Big Burger Boss

"I'm not throwing in the towel," protested Raymond Kroc, 71, the franchise mastermind who created the McDonald's hamburger empire. "But Fred," he added, "is like a son who grows up and is ready to take over." His reference was to Frederick Turner, 40, who last week was named chief executive of McDonald's, succeeding Kroc, who remains chairman.

Turner, a sandy-haired lowan, started out in 1956 as a short-order cook, frying burgers at Ray Kroc's first McDonald's restaurant outside Chicago. Kroc then tapped him to keep an eye on new restaurants; he rose so rapidly that he never had time to claim the...

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