Former Chrysler Chairman Lee Iacocca Passes

Former Chrysler Chairman Lee Iacocca has died. His family confirmed the news the automaker died at age 94 – apparently, of natural causes. For those too young to recall, Iacocca is best known for saving Chrysler after it filed for bankruptcy in the 1980s. Truthfully, he didn’t just save it – he completely revived the brand.

After spending most of his career at Ford and leading the team that designed the Ford Mustang, Iacocca took over a troubled carmaker and stabilized it. He became nationally known through television commercials where he told viewers, "If you can find a better car, buy it." He was born in Allentown, Pennsylvania.

President Reagan appointed Iacocca as chairman of the Statue of Liberty/Ellis Island Centennial Commission that raised money to restore the iconic statue. He also served for eight years as Ford's CEO before taking over Chrysler.

Source: Wall Street Journal