Lee Iacocca, 'father' of Ford Mustang who helped save Chrysler from bankruptcy, dead at 94: reports

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Father of the Ford Mustang and former chairman of Chrysler Lee Iacocca has died of natural causes, his family said Tuesday. He was 94.


Iacocca, born in Allentown, Pa., on October 15, 1924 as the child of Italian immigrants, started working at Ford Motor Company in 1946 and is heralded as the leader of the team that created the first Mustang in 1964. He ascended to CEO of the company in 1970 but was fired by Henry Ford Jr. in 1978.


The auto mogul later slammed Ford, saying in his autobiography, "If a guy is over 25% jerk, he's in trouble. And Henry was 95%." Iacocca later reiterated the same sentiments to Time magazine in 2001, saying Ford was cruel, crude and paranoid.



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