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‘Father Of The Mustang’ Lee Iacocca Has Died At 94: Report

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Lee Iacocca, the American automobile executive best known for the development of Ford Mustang and saving Chrysler from bankruptcy, is dead at 94, his family is reporting.

Lee was born in Allentown, Pennsylvania to Italian immigrants.  His automotive career began in 1946, when he took a job as an engineer at Ford Motor Company. Lee managed the team that created Ford’s Mustang in 1964, according to the Washington Post.

He went on to become Ford’s CEO in 1970 before Henry Ford II reportedly fired Iacocca from his position after 8 years.  Lee later joined Chrysler in 1979, eventually becoming their CEO. Iacocca oversaw Chrysler’s emergence from bankruptcy, according to Fox 2

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Lee public profile increased after he starring in the television ads for Chrysler when he became known for his signature tagline “If you can find a better car, buy it.”

President Ronald Reagan appointed Iacocca as chairman of the Statue of Liberty-Ellis Island Centennial Commission, which oversaw fundraising for the restoration of the Statue of Liberty.

Lee retired from Chrysler in 1992. At the moment the cause of his death has not been made known.

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