Lee Iacocca passes away, aged 94

Lee Iacocca passes away, aged 94

Though he was made president of Ford in 1970, he was sacked just eight years later by Henry Ford Jr.in 1978, which he compared to "what it feels like to get kicked off Mt. Everest" in his autobiography. He pitched viewers on the quality of American-made vehicles at a time when the Big Three automakers were struggling in the face of intense competition from lower cost, fuel efficient options from Japan and European automakers. His influence on everything from product to business practices has, for good or ill, informed the way that the auto industry works today. He first joined Ford in 1946 and rose rapidly through the ranks, helping to make the Mustang into an instant icon after its debut in 1964.

The following year, Iacocca introduced the minivan and created a new market that helped the company reach new heights of profitability. Iacocca was one of the most powerful executives in Detroit.

"I will always appreciate how encouraging he was to me at the beginning of my career", said Ford in a statement.


Iacocca isn't just known for spearheading the launch of the Ford Mustang, he also led the development of the controversial Pinto.

Chrysler picked him up in 1979 and made him their CEO. He did so after going to Congress to request a loan guarantee.

As of now, there are no plans for a local memorial, however, according to a statement from Dianna C. Gutierrez with FCA, the two-story Pentastar window atop the Chrysler headquarters will be lit in tribute to Iacocca.


He was well-known for appearing in television advertisements where he would point at the viewer and say: "If you find a better auto, buy it!" Then-president Ronald Regan is said to have extensively consulted him and Iacocca was also being strongly considered for the post of the President of the United States following the Regan administration. These included the fuel-efficient K-series Dodge Aries and Plymouth Reliant models as well as the first US -produced minivan, introduced in 1983 as the Plymouth Voyager and Dodge Caravan.

Chrysler Corp. Chairman Lee Iacocca, pictured in February 1989, died Tuesday at the age of 94. In 1983, he announced with pride that they were repaying the government loans seven years early. He had been at Ford for 32 years. His other books included 1988's "Talking Straight" and 2007's "Where Have All the Leaders Gone?". "Mustangs, Chrysler, Leadership. a full life, well lived".


Related Articles

  • How Yesterday's Total Solar Eclipse Looked From a Plane (Photos, Video)

    How Yesterday's Total Solar Eclipse Looked From a Plane (Photos, Video)

    I've never seen an eclipse, and it's very surprising because it doesn't happen very often. You'll need eclipse glasses, which are regulated by an worldwide safety standard.
    Trump still wants tanks displayed at July 4th celebration

    Trump still wants tanks displayed at July 4th celebration

    Washington Monument (C) and US Capitol (R) are seen on the National Mall from air October 17, 2012 above Washington, DC. Here are some of the things we do (and don't) know about the festivities planned for Trump's "A Salute to America".
    U.S.  business groups praise Trump for trade cease-fire with China

    U.S. business groups praise Trump for trade cease-fire with China

    Kudlow repeated an assessment made days before the talks broke down, that the USA and China are 90% done on a trade deal. China also agreed to hold back from imposing tariffs and will purchase more United States agricultural products.
  • Pence Abruptly Cancels New Hampshire Trip, Returns to White House

    Pence Abruptly Cancels New Hampshire Trip, Returns to White House

    Add Mike Pence as an interest to stay up to date on the latest Mike Pence news, video, and analysis from ABC News . The VP was supposed to attend an event in New Hampshire regarding the opioid crises, but that has been cancelled.
    UK Duchess Kate skips Royal Box for outside court

    UK Duchess Kate skips Royal Box for outside court

    Kate dressed fittingly for a day at the tennis , wearing a white dress cinched at the waste by a black belt with a bow. The mom of three totally wowed in a t-shirt dress while sitting in the crowd before making her way to the royal box.
    Senators expected to sign two more former Leafs when free agency opens

    Senators expected to sign two more former Leafs when free agency opens

    Louis Blues and Boston Bruins from 2014-2017, the 27-year-old became an National Hockey League mainstay last season. He also had a solid season production wise with five goals, 23 points and a career-high plus 30.
  • 18 dead as Monsoon rains flood Mumbai

    18 dead as Monsoon rains flood Mumbai

    Not only this, extremely heavy downpour has taken lives of around 22 people due to different incidents of the wall collapse. In 2005, 950 millimeters (37 inches) of rain fell on the coastal metropolis in just 24 hours, killing more than 500 people.
    Qualifying Scenarios for Pakistan at ICC Cricket World Cup 2019

    Qualifying Scenarios for Pakistan at ICC Cricket World Cup 2019

    England crumbled to 221 all out in 44.4 overs in reply to Australia's 285-7 , despite Ben Stokes' best efforts as he scored 89. With a thumping win against New Zealand , Pakistan has improved its chances to qualify for the World Cup semi-finals.
    EA Access game subscriptions arrive on PS4 this month

    EA Access game subscriptions arrive on PS4 this month

    Accordingly, as Xbox Scarlett would launch in the holiday season of 2020, PlayStation 5 might soon follow its competitor. The PS3 and the Xbox 360 do not present the same case, the consoles being released a whole year from one another.
  • Leeds sign Wolves winger Costa on loan

    Leeds sign Wolves winger Costa on loan

    The youngster, though, will stay at Leeds for the 2019-20 campaign, after a loan deal was agreed between the two clubs. Clarke is Spurs' first signing since Brazil forward Lucas Moura joined from Paris St-Germain in January 2018.
    Barty, Kerber ease through, Federer and Nadal set to play

    Barty, Kerber ease through, Federer and Nadal set to play

    While Serena celebrated it was bad news for big sister Venus - who was stunned by 15-year-old wonder-kid Coco Gauff on day one. Later a reporter asked her for a percentage in regards to how likely it was she would play with him.
    Wimbledon 2019: Defending champion Novak Djokovic off to winning start

    Wimbledon 2019: Defending champion Novak Djokovic off to winning start

    The teenager said: "She just told me, 'Congratulations, ' and to keep going and good luck". "I never thought this would happen". Asked what advice she had for tennis's latest prodigy, she said: "Have fun, enjoy life, that's all you can do".