ATLANTA (WXIA) - Founder and chairman of Chick-fil-A, Truett Cathy, announced on Thursday that he was stepping down as CEO of the fast food chain.

His son, president and chief operating officer Dan Cathy will assume the title of chairman, president and CEO, according to a statement from the company.

"Dan is ready to take Chick-fil-A into its next chapter of growth and stewardship," Truett Cathy said in a statement released Thursday. "He has been a highly effective leader in the business and shares my commitment of being a faithful steward to all that has been entrusted to us. I am deeply grateful for so many things in my life --- for the opportunity to grow one modest restaurant into a chain that provides for the Operators and team members who run them, for the communities they serve and for the bounty that has allowed us to give back through foster homes, scholarships and camps for children. I am also grateful for my children and grandchildren who have a love for the family business, and I have the deepest confidence in their commitment to continue graciously running our family business under Dan's leadership."

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