It’s rare for an auto executive to become a household name across the country, but Lee Iacocca earned that distinction over an impressive 46-year career that saw him introduce the world to the iconic Ford Mustang, lead the Ford Motor Company, and orchestrate the impressive turnaround of the struggling Chrysler Corporation. In a 1985 Gallup poll of the men most admired by the American people, Iacocca ranked third behind Ronald Reagan and Pope John Paul II, respectively.
The Pennsylvania native and son of Italian immigrants was hired by Ford in 1946 as an engineer but soon pivoted to sales and marketing, where he climbed the corporate ladder and was named vice president and general manager of the Ford Division at age 36. Four years later, his image graced the cover of Time and Newsweek in April 1964, the same month as the official unveiling of the Ford Mustang — the sporty car he had championed — at the 1964 New York World’s Fair. Nearly 15 million visitors rode in a Mustang convertible in a fixed-track ride during the fair, and the car went on to set an industry record for sales during its first year.
Iacocca was named president of Ford in 1970. Two years later, renowned Detroit Free Press photographer Tony Spina took the above portrait of him in front of the Rouge Plant and a Lincoln Continental Mark IV.
In July 1978, Ford’s chairman and CEO, Henry Ford II, made national headlines when he fired Iacocca without offering a public explanation, though internally the two were known to have clashed at times. Just four months later, Iacocca was hired by Chrysler to lead the floundering company. There, he cemented his legacy by engineering one of the greatest corporate comebacks in history.
While securing labor concessions and a $1.5 billion federal loan guarantee — of which $1.2 billion was used and paid back early — he introduced the successful K-cars and minivan, and he acquired the Jeep brand.
His 1984 autobiography became a bestseller, and before he retired as chairman and CEO in 1992, Americans had seen him in countless television commercials, saying, “If you can find a better car, buy it!” Appointed by President Reagan, Iacocca also proudly and successfully chaired the project to restore the Statue of Liberty and Ellis Island. Iacocca died in 2019 at age 94 due to complications from Parkinson’s disease.
This story originally appeared in the March 2026 issue of Hour Detroit magazine. To read more, pick up a copy of Hour Detroit at a local retail outlet. Click here to get our digital edition.
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