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Chick-fil-A founder retiring as CEO, chairman

[November 07, 2013]  NEW YORK (AP) -- Chick-fil-A founder Truett Cathy is retiring as chairman and CEO. His son, Dan Cathy, will take on both roles.

Truett Cathy, 92, will assume the title of founder and chairman emeritus of the restaurant chain. The company said in a statement that he will continue to concentrate on his entrepreneurial work. This includes his new restaurant concept, Truett's Luau, opening in Fayetteville, Ga. in December.

Truett Cathy founded Chick-fil-A in 1967.

Dan Cathy currently serves as president and chief operating officer of Chick-fil-A Inc. He will retain the title of president when he becomes chairman and CEO.

Privately held Chick-fil-A is based in Atlanta. It has more than 1,765 restaurants in 39 states and Washington D.C. The company's 2012 sales were $4.6 billion.

[Associated Press]

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