One of the most influential figures in the automobile industry, Lee Iacocca died on Tuesday and was 94 years old.
He was known as the “Father of the Mustang” and was a legendary businessman. In the 1980s he was credited for saving Chrysler from bankruptcy. He passed away in his Bel-Air home in California.
A family spokesperson of Lee Iacocca told that he had died due to the problem of Parkinson’s disease.
Lido Anthony Iacocca was born on October 15, 1924, and in 1946 after completing his Master’s in engineering at Princeton University he landed at Ford Motor Company. There he impressed his co-workers with his friendly nature and drive. After 8 years of dating in 1956, he marries Mary McCleary.
After undertaking the 1964 production of the Mustang he got the title of “Father of the Mustang” and in 1970 he was named the president of Ford.
Iacocca partnered with Chrysler after 9 years and was named CEO. AS CEO he helped the company closely dodge bankruptcy by appealing to the federal government for help. Then he paid off the government seven years early at revenue of $350 million.
He became popular as well as a household name starring the television commercials. There he delivered his simple but famous slogan of ‘If you can find a better car, buy it.’
FCA (Fiat Chrysler Automobiles) said that they were “saddened by the news” of the passing of Iacocca’s and remembered him for his several contributions to their group. They further added that he was one of the great leaders of our corporation and the auto industry as an entire.
Moreover, Iacocca also donated the earnings from his successful book. There were 7 million copies of a book sold after it was published in the year 1984.