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Former Chrysler CEO Lee Iacocca died at 94



Lee Iacocca, the auto industry titanium who helped develop the Ford Mustang and who rescued Chrysler from financial ruin, died early on Tuesday in his home in California. He was 94.

The cause of death was complications of Parkinson's disease, according to The Washington Post.

Born in Allentown, Pa., To Italian Immigrant Parents, Iacocca began his career at Ford as a 22-year-old in 1946, and eventually rose to president in 1970.

His most remarkable automatic The giant was spearheading the successful release of the Ford Mustang, one of the company's most recognizable models.

Having been abruptly kicked in 1978 by Henry Ford Jr., Iacocca rival Chrysler, where he rescued the company from bankruptcy in the early 1

980s, began to convince Congress in 1979 to approve a $ 1.5 billion bailout package.

In his time as Chrysler's chief executive, he sought to burn the damaged car manufacturer's image, as evidenced by a number of brutally honest commercials admitting the company's past struggle – but promised future success.

In one of the commercial advertisements of 1984, Iacocca said Chrysler had "kicked his head", referring to the company's near economic breakdown.

At the end of the same site, Iacocca struck another tone and stated, "I have one and one ambition for Chrysler. Being the best. What else is it?"

Part of Chrysler's new direction during Iacocca was a focus on the vehicles that would replace the station wagon: Plymouth Voyager and Dodge Caravan minivans.

Iacocca also monitored the Chrysler release in 1982 LeBaron, whose convertible edition excelled at a time when others randomly.

He retired from Chrysler in 1992.

Iacocca never forgot his humble roots as an immigrant's son.

In 1982, President Ronald Reagan appointed him as head of the Statue of Liberty-Ellis Island Foundation, which raised hundreds of millions of dollars to restore the Statue of Liberty and Ellis Island.

With Post Wires


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