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The Economic Times
The Economic Times
Trending Desk

In 1978, Henry Ford II fired Lee Iacocca, father of iconic Ford Mustang. Five years later, he delivered record profits for nearly bankrupt rival Chrysler

Lee Iacocca’s career is one of the more remarkable stories in the history of the American automobile industry. The executive who played a major role in bringing the Ford Mustang to market was dismissed by Henry Ford II in 1978 after years at Ford. Just a few years later, Iacocca was leading rival automaker Chrysler, which was facing a severe financial crisis. His move from Ford to Chrysler turned a bitter corporate exit into one of the most closely watched turnarounds in the US auto industry.

Iacocca and the rise of the Mustang

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