Facts about auto industry executive Lee Iacocca:
FILE PHOTO: Former Chrysler Chairman Lee A. Iacocca is seen during a Chrysler briefing on earnings in February 1991. REUTERS/John Hillery/File Photo
* Iacocca quickly rose through the ranks and was made Ford president in 1964. During his tenure, he championed the highly successful Mustang but clashed with Ford chief Henry Ford II, who fired him in 1978 after 32 years with the company. The moves, along with Chrysler’s introduction of fuel-efficient cars and the minivan, led to a corporate comeback. He paid off the loans seven years early.
* While Ford’s Mustang and Chrysler’s minivans were huge successes for Iacocca, he also was behind the Ford Pinto, which was recalled because of the danger of exploding gas tanks.
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