Tag: chrysler

Industry giant Lido “Lee” Anthony Iacocca was elected chairman of Chrysler on this day in 1979, 10 months after joining the company as president. It was Lee’s career at Ford Motor Company that would lead him to the top of Chrysler. As a vice president at Ford more than a decade prior Iacocca was instrumental in the introduction of the Ford Mustang. From there he forecast the need for fuel efficient, domestically made cars, which led to the development of the Pinto. He became president of Ford in 1970 but Henry Ford II fired him unceremoniously in 1978. He attributed the event to fundamentally different business ideologies than those of Ford II (even though Ford saw a profit of more than $2 billion in Iacocca’s final year). Above: Iacocca leaning on Mustang (NY Times). Top: Iacocca with...

On this day in 1970 Lido Anthony “Lee” Iacocca became the president of Ford Motor Company. He would serve in the role for nearly eight years before a jealous Henry Ford II kicked him to the curb. His career in the auto industry is the stuff of legend, and it may have never happened if not for getting sick. Due to a childhood illness, Lee was barred from service during WWII. Though this may have saved his life, Lee recalled wanting nothing more than to fly a bomber over Nazi Germany. Unable to join the fight, Lee took the opportunity to study engineering at Lehigh University in Pennsylvania. He would later attend Princeton before joining Ford’s own educational engineering program. Following his graduation from the Ford institution he became an engineer with the company. He soon found a ...