Lido Anthony “Lee” Iacocca famed as Lee Iacocca was an American automobile executive. He was best known for the development of Ford Mustang and Pinto cars. Later, he was known for reviving the Chrysler Corporation as its CEO during the 1980s. He served as President and CEO of Chrysler from 1978 and additionally as chairman from 1979, until his retirement at the end of 1992. Moreover, he is also an author. He has authored or co-authored several books, including Iacocca: An Autobiography (with William Novak), and Where Have All the Leaders Gone? Portfolio named Iacocca the 18th-greatest American CEO of all time. Overall, he was a very talented person.
Auto Industry Icon, Lee Iacocca died at 94
Auto industry icon Lee Iacocca, once one of America’s highest-profile business executives and credited with rescuing Chrysler from near-bankruptcy in the 1980s, has died. He was 94. He was instrumental in the creation of the Ford Mustang and the Chrysler minivan. His youngest daughter confirmed he passed away of natural causes Tuesday. He is survived by two daughters and eight grandchildren.
When and Where did Lee Iacocca die?
Lee Iacocca died on 2nd July 2019 at the age of 94 in Bel Air, the USA.
What was the cause of the death of Lee Iacocca?
The cause of death was complications of Parkinson’s disease.
Early Life of Lee Iacocca
On 15th October 1924, Lee Iacocca was born as Lido Anthony Iacocca in Allentown, the USA. He was born to Nicola Iacocca and Antonietta Perrotta. His father was an astute businessman who also owned a theatre and a car rental agency. His nationality is American and his ethnicity is White. His religion is Christian and his horoscope sign is Libra. As per his education, he is graduated from Allentown High School in 1942, and Lehigh University in neighboring Bethlehem, Pennsylvania, with a degree in industrial engineering.
Body Measurements (Height, Weight, and more)
Lee Iacocca was a very handsome person with a very sweet and charming smile on his lips. He had a very perfect body matching his weight. Unfortunately, his exact height, weight, and other body measurements have not been disclosed yet but it will be added soon.
The career of Lee Iacocca
- After his graduation, Lee began a career at the Ford Motor Company as an engineer.
- He was then shifted to the department of sales and marketing where he performed very well.
- He was made the assistant sales manager in the Philadelphia district where he launched the ’56 for 56’ campaign offering loans and down payment options on models of the 1956 year cars which made him a national hero.
- He was named as the vice-president of Ford’s car and truck group in 1960.
- In 1967, he rose to the position of executive vice-president.
- He played a key role in designing the Ford Mustang which was launched in 1964 and became one of the most successful launches by the Ford Corporation.
- He directed the design vice-president in modeling the Lincoln Continental Mark III car which was sold from 1969 till 1971 in the U.S.
- He was made the president of the Ford Corporation in 1970.
- In 1978, all 1971-1976 Pintos were recalled and had safety shielding and reinforcements installed to protect the fuel tank.
- The automobile company Chrysler Corporation was near bankruptcy at that time and they invited Iacocca to become the president of the struggling corporation.
- He began rebuilding the company upon his joining by downsizing and selling off the loss-making division and by bringing in his associates from his former company.
- He approached the U.S. Congress for a loan guarantee as the company needed heavy financial investments for a turnaround in 1979 and later received the loan guarantee from the government in what many believed was an unprecedented move.
- Chrysler later released the Dodge Aries and Plymouth Reliant under the K-Car line in 1981.
- He directed Chrysler to acquire AMC in 1987.
- By the end of 1992, he retired as the President, CEO, and Chairman of Chrysler.
- He has also co-authored several books including his best-selling autobiography, ‘Iacocca: An Autobiography’ in the year 1984.
Marital Status, Children, Divorce
Lee was a married person. He was married three times in his lifetime. Firstly, he married Mary McCleary in 1956 and later she died in 1983. With her, he had two daughters. Mary died from diabetes. After that, he married Peggy Johnson in 1986 but due to some disturbances, the couple annulled in 1987. He then married Darren Early in 1991 but later the couple divorced after 3 years in 1994.
Net Worth, Salary and Source of earning
The net worth of this famous successful automobile executive is estimated to have $100 Million at the time of his death. His exact salary has not been revealed yet but it will be added very soon. His source of earning was from his automobile career. Overall, he was satisfied with his earnings.
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