The founder of Chick-fil-A dies at 93
S. Truett Cathy, the founder of the fast food chain Chick-Fil-A has passed away this morning in his suburban house south of Atlanta.
No cause of death was given, Bloomberg reports.
Cathy opened his first restaurant, which was a diner, in an Atlanta suburb in 1946. There, he created the chicken sandwich that later became the company's signature item. Now, the chain has more than 1,800 restaurants in 40 states and the nation's capital. Chick-fil-A's market value is at about $5.5 billion, and Cathy's net worth was $1.9 billion, according to Bloomberg. Chick-fil-A is known for being closed on Sundays which is rare to come across in today's highly competitive, profit-driven fast food market. The chain is also still privately-owned, which makes it one of the biggest family owned companies. An obituary for Cathy posted on the company's website said "As an extension of the founder's faith and the clearest example of incorporating biblical principles into the workplace, all Chick-fil-A restaurants-without exception-operate with a "Closed-on-Sunday" policy. Rare within the food service industry, this policy allows employees a day for family, worship, fellowship or rest, and also underscores Cathy's desire to put principles and people ahead of profits. Chick-fil-A will remain privately held and closed on Sundays." This suggests that the death of the founder would not affect the company's commitment to its established values. In a 1998 interview Cathy, when asked why he wouldn't want his company to go public, said it "would mean giving up family control of matters such as contributions to charity and remaining closed on Sundays," Bloomberg noted. The company's donations to religious organizations that are fighting against the legalization of gay marriage put the family, and Chick-fil-A, in the middle of the gay marriage debate during the 2012 U.S. elections. Dan Cathy, son of the founder Truett Cathy, said, "Well, guilty as charged. We are very much supportive of the family, the biblical definition of the family unit," according to Bloomberg.
