Lee Iacocca’s profile picture

Lee Iacocca

Lee Iacocca’s profile picture
Net worth 2018: $100 Million
Industry: Business People
Residence: Allentown, Pennsylvania, U.S.
Country: United States
BirthDay: 15 October 1924
Sigh: Scorpio
Education: Lehigh University - Princeton University - William Allen High School,
BIOGRAPHY

Lee Iacocca was bornon 15 October 1924 in Allentown, Pennsylvania, U.S., American. Lee Iacocca, born as Lido Anthony Iacocca, is a businessman who attained a celebrity status by reviving the fortunes of automobile manufacturer Chrysler Corporation which was on the verge of bankruptcy when he took over as the CEO. Previously, he had worked at the Ford Motor Company where he had successfully designed several popular models of cars, the most notable of which were the Ford Mustang, Ford Escort, Mercury Cougar and Mercury Marquis. He was a brilliant employee at Ford and had eventually risen to the post of President. However his business ideas were unorthodox and he possessed a brash management style which brought him into conflict with Henry Ford II who fired him. Though shocked at being fired from the company where he had put in three decades of hard work, he was not away for long from the automobile business. Chrysler Corporation which was performing very poorly in the market and suffering huge losses invited him to join them. Ford’s loss proved to be Chrysler’s gain as Iacocca engineered one of the most famous turnarounds in the history of American automobile industry by rescuing the struggling corporation and enabling it to register profits again. He was named the 18th-greatest American CEO of all time by the Portfolio.

NET WORTH STATISTIC
2018

$100 Million

TIMELINE
2006

The Lee Iacocca Award, established by the Iacocca Family Foundation in 2006 is a prestigious award that is given for Dedication to Excellence in Perpetuating An American Automotive Tradition

1992

By the end of 1992 he retired as the President, CEO, and Chairman of Chrysler

1991

He married Darrien Earle in 1991 and divorced her three years later

1987

He directed Chrysler to acquire AMC in 1987, bringing the Jeep division under the corporation

1986

He married for the second time to Peggy Johnson in 1986 but their marriage was annulled the very next year

1984

He has also co-authored several books including his best selling autobiography, ‘Iacocca: An Autobiography’ (1984)

1983

Along with Hal Sperlich, a former colleague from Ford, he brought to Chrysler the “Mini-Max” project which resulted in the highly successful Dodge Caravan and Plymouth Voyager in 1983

1981

Under his direction Chrysler released the Dodge Aries and Plymouth Reliant under the K-Car line in 1981

1978

After years of tension between the two, Iacocca was finally fired from the company on 1978

1970

Iacocca was made president of the Ford Corporation in 1970

1969

He directed the design vice-president in modeling the Lincoln Continental Mark III car which was sold from 1969 till 1971 in the U

1967

He rose to the position of executive vice-president in 1967

1964

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

1960

He was named as the vice-president of Ford’s car and truck group in 1960

1956

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 1956 year cars

1946

He joined Ford Motor Company in 1946 as an engineer

(3.8/176 votes)
Related Person