Lee Iacocca 1:18 by Scale Figures
Lido Anthony "Lee" Iacocca ( October 15, 1924 – July 2, 2019) was an American automobile executive best known for the development of Ford Mustang and Pinto cars, while at the Ford Motor Company in the 1960s, and for reviving the Chrysler Corporation as its CEO during the 1980s. He was president and CEO of Chrysler from 1978 and chairman from 1979, until his retirement at the end of 1992. He was one of the few executives to preside over the operations of two of the Big Three automakers. Iacocca joined Ford Motor Company in August 1946. After a brief stint in engineering, he asked to be moved to sales and marketing, where his career flourished. While working in the Philadelphia district as assistant sales manager, Iacocca gained national recognition with his "56 for '56" campaign, offering loans on 1956 model year cars with a 20% down payment and $56 in monthly payments for three years. His campaign went national, and Iacocca was called to the Dearborn headquarters, where he quickly moved up through the ranks. On November 10, 1960 Iacocca was named vice-president and general manager of the Ford Division; in January 1965 Ford's vice-president, car and truck group; in 1967, executive vice-president; and president on December 10, 1970. Iacocca participated in the design of several successful Ford automobiles, most notably the Ford Mustang, the Continental Mark III, the Ford Escort and the revival of the Mercury brand in the late 1960s, including the introduction of the Mercury Cougar and Mercury Marquis. He promoted other ideas which did not reach the marketplace as Ford products. These included cars ultimately introduced by Chrysler – the K car and the minivan. Iacocca also convinced company boss Henry Ford II to return to racing, claiming several wins at the Indianapolis 500, NASCAR and the 24 Hours of Le Mans. Eventually, he became the president of the Ford Motor Company, but he clashed with Henry Ford II. He was fired on July 13, 1978, even though the company posted a $2 billion profit for the year. Also worked many years for Chrysler.