Lee Iacocca, former Chrysler chairman, in 2005. (Photo by Matthew Simmons/Getty Images)
Matthew Simmons | Getty Images Entertainment | Getty Images
Lido Anthony Iacocca, the automobile industry legend best known as “Lee,” died at the age of 94 on Tuesday morning, his family confirmed.
A child of Italian immigrants who grow up in humble conditions, Iacocca became one of the most powerful — and best known — executives in Detroit.
Iacocca rose to become president of Ford Motor in December 1970.
After being fired in a dispute with company heir Henry Ford II, Iacocca joined 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.
During his career, Iacocca become closely associated with at least three iconic vehicles. He has been widely credited as the father of the Ford…