Lido Anthony “Lee” Iacocca is dead. His death was announced by his youngest daughter who confirmed that he passed away of natural causes.
Lee Iacocca is known for rescuing Chrysler from near-bankruptcy in the 1980s. He was also instrumental in the creation of the Ford Mustang and the Chrysler minivan.
Born on the 24th of October, 1924 to Italian immigrants, he started work with Ford Motor Company in 1946. He was appointed president of Ford in 1970, but was fired by Henry Ford Jr. in 1978.
He was then hired by Chrysler Corp. in 1978 and became the company’s CEO in 1979. He is credited with saving the company from bankruptcy.
He became a household name across America when he starred in a series of TV advertisements for Chrysler. His famous catchphrase was … “If you can find a better car, buy it.”
He retired from Chrysler in 1992.
Fiat Chrysler Automobiles said in a statement that it was saddened by the news of Iacocca’s passing.
“He played a historic role in steering Chrysler through crisis and making it a true competitive force,” FCA said in a statement. “He was one of the great leaders of our company and the auto industry as a whole. He also played a profound and tireless role on the national stage as a business statesman and philanthropist.”
Bill Ford, executive chairman of Ford Motor Company, said Iacocca was “truly bigger than life and he left an indelible mark on Ford.”
Ford said he appreciated Iacocca’s encouragement during Ford’s early career. “He was one of a kind and will be dearly missed.”
He is survived by two daughters and eight grandchildren.
