The father of the Ford Mustang has died at age 94.
Lee A. Iacocca is credited to with rescuing Chrysler from near-bankruptcy in the 1980s and instrumental in the creation of the Ford Mustang and the Chrysler minivan.
Iacocca’s youngest daughter confirmed he died on July 2 of natural causes.
Iacocca became a heroic figure to millions of Americans. He was a household name and was a star in Chrysler’s television commercials, where he pointed a finger at viewers and said, “if you can find a better car, buy it.”
He saved Chrysler moments before bankruptcy, by persuading Congress to loan NZ$2.3 billion to launch its “K-car.” Chrysler came back to form and Iacocca paid the government back seven years early.
Iacocca started working at Ford Motor Company in 1946 and was named president of Ford in 1970 before being fired by Henry Ford Jr. in 1978.
He then started working for Chrysler Corp. in 1978 and became the chief executive officer a year later.
Iacocca spent his last years living in Los Angeles.
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