The father of the Mustang and the minivan, Lee Iacocca, has died at the age of 94.
The Washington Post confirmed through Iacocca's family that the automobile industry executive passed away at his home in the Bel-Air area of Los Angeles on Tuesday, following complications from Parkinson’s disease.
Fiat Chrysler Automobiles (FCA) issued a statement late Tuesday night from their North American headquarters in Auburn Hills, Michigan.
"The company is saddened by the news of Lee Iacocca's passing," the statement read. "He played a historic role in steering Chrysler through crisis and making it a true competitive force. He was one of the great leaders of our company and the auto industry as a whole. He also played a profound and tireless role on the national stage as a business statesman and philanthropist."
"Lee gave us a mindset that still drives us today, one that is characterized by hard work, dedication and grit," the statement continued. "We are committed to ensuring that Chrysler, now FCA, is such a company, an example of commitment and respect, known for excellence as well as for its contribution to society. His legacy is the resiliency and unshakeable faith in the future that live on in the men and women of FCA who strive every day to live up to the high standards he set."
Iacocca is credited with launching the Mustang at Ford and saving Chrysler from bankruptcy by persuading U.S. Congress in 1980 to approve federal loan guarantees of up to $1.5 billion. He was also largely responsible for boosting sales for Chrysler by introducing the fuel-efficient K-car line and the minivan, which has been vital to Windsor's economy for decades.
The American automobile executive served as president, CEO and chairman of Chrysler from the late 1970s until his retirement at the end of 1992. In addition, Iacocca is remembered for his work to restore the Statue of Liberty and historic Ellis Island, the first stop for many immigrants to the United States.
Reaction to Iacocca's passing has been widespread. Ford Motor Company chairman Bill Ford Jr., whose uncle, Henry Ford II, famously fired Iacocca in 1978 due to personal friction, remembered Iacocca's mentorship and guidance.
"I will always appreciate how encouraging he was to me at the beginning of my career," said Ford in a statement. "He was one of a kind and will be dearly missed."
Windsor Mayor Drew Dilkens praised Iacocca's devotion to the auto industry as well as Windsor itself.
https://twitter.com/drewdilkens/status/1146404986106064897
-With files from Mark Brown
