Lee Iacocca (Lido Anthony Iacocca) was an American automobile executive who was the father of Ford Mustang and helped save Chrysler from bankruptcy in the 1980s. He died on July 2, 2019 at the age of 94 due to complications from Parkinson’s Disease.

Lee Iacocca Age

Lee was 94 years old at the time of his death; he was born on October 15, 1924 in Allentown, Pennsylvania.

Lee Iacocca Ethnicity

Lee was of Italian ethnicity.

Lee Iacocca Family

Lee was born to Italian immigrants Nicola and Antonietta in Allentown. As a child he suffered from rheumatic fever and as a result, he was found medically unfit to serve in the military during World War II.

Lee Iacocca Wife

Lee married his first wife Mary McLeary in 1956, she was a receptionist at the Ford plant in Chester. She died in 1983 from complications of diabetes. He then married his second wife Peggy Johnson in 1986 but the marriage was annulled in 1987. In 1991 he married his third wife Darrien Earle divorcing in 1994.

Lee Iacocca Children

Lee had two daughters Lia and Kathryn from his first marriage. According to the Iacocca Family Foundation website, Kathryn is the President of the foundation while Lia is a board member.

Lee Iacocca Net worth

Lee had an estimated net worth of $100 million dollars.

Lee Iacocca Education

Lee attended Allentown High School and later joined Lehigh University graduating with a degree in industrial engineering. He also holds a master’s degree in engineering from Princeton University graduating with a

Lee Iacocca Ford

In 1964 Iacocca joined Ford Motor Company as an engineer. After a short while, he asked to be moved to sales and marketing. He gained national attention with his “56 for ’56” campaign while working in Philadelphia district as an assistant sales manager, he was offering loans on 1956 model year cars with a 20% down payment and $56 in monthly payments for three years.

He was named the vice president and general manager of the Ford Divison on November 10, 1960, he rose to higher ranks very fast as in January 1965 he was named Ford’s vice-president, car and truck group and in 1967 he was named executive vice-president and eventually Ford’s president on December 10, 1970.

Lee 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.

He was fired on July 13, 1978, after he clashed with Henry Ford II.

Lee Iacocca Chrysler

After Lee left Ford he was hired to head the Chrysler Corporation, which was then in such financial distress that it was in danger of bankruptcy. Under his leadership, Chrysler received $1.5 billion in federal loan guarantees.

Lee also brought with him the “Mini-Max” project, which, in 1983, bore fruit in the highly successful Dodge Caravan and Plymouth Voyager.

Iacocca appeared in a series of commercials for the company’s vehicles throughout the 1980s, employing the ad campaign, “The pride is back,” to denote the turnaround of the corporation. He also voiced what was to become his trademark phrase: “If you can find a better car, buy it.” At the end of 1992, he retired as the president, CEO and chairman of Chrysler.

Lee Iacocca Death

Lee Iacocca died at the age of 94 on July 2, 2019, at his home in the Bel Air neighbourhood of Los Angeles, California.  According to the Washington Post, his death was reported by his daughter Lia who said he died of complications from Parkinson’s Disease.

Lee Iacocca Cause of Death

His daughter Lia reported that he died due to complications from Parkinson’s Disease.