Auto industry icon, Lido Anthony Iacocca is dead at 94
Lido Anthony Iacocca was confirmed dead by his daughter, Lia Iacocca Assad, who told NBC News that he died of natural causes.
Lido Anthony Iacocca who was an automobile industry legend best known as “Lee,” has died at the age of 94.
According to reports, Iacocca died at his home in the Bel Air section of Los Angeles. Lia Iacocca Assad says he passed peacefully and was surrounded by family.
Lee got married three times and his last marriage was to Darrien Earle, which ended in 1994. He is survived by a sister, two daughters, two sons-in-law, and eight grandchildren.
Lee led the turnaround of Chrysler and was closely associated with at least three iconic vehicles, including the Ford Mustang, the K-Car, and minivans.
He grew up as an Italian immigrants in humble conditions but became one of the most powerful — and best known — executives in Detroit.
In 1970, Iacocca rose to become president of Ford Motor where he was later fired after a dispute with the company heir Henry Ford II. He moved on to join the then-struggling Chrysler. Using both his business skills and ability to turn a phrase, he won federal loan guarantees that helped the automaker avoid a potential 1980 bankruptcy.
Iacocca became Chrysler’s chairman and CEO but also became famous for its TV pitchman, where he made famous the tag line, “If you can find a better car, buy it.”