LEE IACOCCA
LIDO ANTHONY "LEE" IACOCCA BORN OCTOBER 15, 1924 IS AN AMERICAN BUSINESSMAN KNOWN FOR E N G I N E E R I N G T H E F O R D M U S TA N G A N D FORD PINTO CARS, BEING LET GO F R O M F O R D M O T O R C O M PA N Y A N D H I S R E V I VA L O F T H E C H R Y S L E R C O R P O R AT I O N I N T H E 1980S
HE SERVED AS PRESIDENT AND CEO OF CHRYSLER FROM 1978 A N D A D D I T I O N A L LY A S C H A I R M A N F R O M 1 9 7 9 , U N T I L H I S R E T I R E M E N T AT T H E
One of the most famous business people in the world, Iacocca was a passionate advocate of U.S. business exports during the 1980s. He is the author (or coauthor) of several books, including Iacocca: An Autobiography (with William Novak), and Where Have All the Leaders Gone? Portfolio named Iacocca the 18th-greatest American CEO of all time.
CAREER AT FORD
Iacocca joined Ford Motor Company in 1946. After a brief stint in engineering, he asked to be moved to sales and marketing, where his career flourished.
WHILE WORKING IN THE PHILADELPHIA DISTRICT AS ASSISTANT SALES MANAGER, IACOCCA GAINED NATIONAL RECOGNITION WITH HIS "56 FOR '56" CAMPAIGN, OFFERING LOANS ON 1956 MODEL YEAR CARS WITH A 20% DOWN PAYMENT AND $56 IN MONTHLY PAYMENTS FOR THREE YEARS
HIS CAMPAIGN WENT NATIONAL, AND IACOCCA WAS CALLED TO DEARBORN, WHERE HE QUICKLY MOVED UP THROUGH THE RANKS. IN 1960 IACOCCA WAS NAMED FORD'S VICEPRESIDENT, CAR AND TRUCK GROUP; IN 1967, EXECUTIVE VICE-PRESIDENT; AND PRESIDENT IN 1970.
IACOCCA PARTICIPATED IN THE DESIGN OF SEVERAL SUCCESSFUL FORD AUTOMOBILES, MOST NOTABLY THE FORD MUSTANG, THE LINCOLN CONTINENTAL MARK III, THE FORD ESCORT AND THE REVIVAL OF THE MERCURY BRAND IN THE LATE 1960S, INCLUDING THE INTRODUCTION OF THE MERCURY COUGAR AND MERCURY MARQUIS
HE PROMOTED OTHER IDEAS WHICH DID NOT REACH THE MARKETPLACE AS FORD PRODUCTS. THESE INCLUDED CARS ULTIMATELY INTRODUCED BY CHRYSLER THE K CAR AND THE MINIVAN. EVENTUALLY, HE BECAME THE PRESIDENT OF THE FORD MOTOR COMPANY, BUT HE CLASHED WITH HENRY FORD II. HE WAS FIRED IN 1978, ALTHOUGH THE COMPANY POSTED A $2 BILLION PROFIT FOR THE YEAR.
CAREER AT CHRYSLER
IACOCCA WAS STRONGLY COURTED BY THE CHRYSLER CORPORATION, WHICH WAS ON THE VERGE OF GOING OUT OF BUSINESS. AT THE TIME, THE COMPANY WAS LOSING MILLIONS, LARGELY DUE TO RECALLS OF ITS DODGE ASPEN AND PLYMOUTH VOLARE
IACOCCA LATER SAID THEY SHOULD NEVER HAVE BEEN BUILT. IACOCCA JOINED CHRYSLER AND BEGAN REBUILDING THE ENTIRE COMPANY FROM THE GROUND UP, LAYING OFF MANY WORKERS, SELLING THE LOSS-MAKING CHRYSLER EUROPE DIVISION TO PEUGEOT, AND BRINGING IN MANY FORMER ASSOCIATES FROM HIS FORMER COMPANY.
ALSO FROM FORD, IACOCCA BROUGHT TO CHRYSLER THE "MINIMAX" PROJECT, WHICH, IN 1983, BORE FRUIT IN THE HIGHLY SUCCESSFUL DODGE CARAVAN AND PLYMOUTH VOYAGER HENRY FORD II HAD WANTED NOTHING TO DO WITH THE MINI-MAX, A RESTYLED VERSION OF THE MINIVAN, WHICH TOYOTA WAS SELLING IN HUGE NUMBERS IN ASIA AND LATIN AMERICA, AND HIS OPINION DOOMED THE PROJECT AT FORD
HAL SPERLICH, THE DRIVING FORCE BEHIND THE MINI-MAX AT FORD, HAD BEEN FIRED A FEW MONTHS BEFORE IACOCCA. HE HAD BEEN HIRED BY CHRYSLER, WHERE THE TWO WOULD MAKE AUTOMOTIVE HISTORY.
WHY I ADMIRE HIM
IACOCCA IS ONE OF THE GREATEST CEOS OF THE WORLD HE WAS THE TURNAROUND CEO WHO REVIVED CHRYSLER CORPORATION WHICH WAS ONE THE VERGE OF BANKRUPTCY IN HIS AUTOBIOGRAPHY HE EXPLAINS IN SIMPLE WORDS THE BIG BAD WORLD OF AUTOMOBILE IN THE 1960S-1980S
HE ALSO DESCRIBES HOW THINGS ARE DONE IN THE US, HIS RELATIONS WITH HENRY FORD AND THE HOW JAPANESE TOOK OVER THE AMERICAN MARKETS
A PASSIONATE CAR MAKER, INNOVATOR, SKILLED ENGINEER AND A PERSON WITH GREAT BUSINESS ACUMEN THE THING THAT INSPIRES ME THE MOST IN HIM IS HIS HARD WORK AND NEVER GIVE UP ATTITUDE AS HE WRITE IN HIS BOOK LITERALLY DONT JUST STAND THERE DO SOMETHING
OTHER ASPECTS OF IACOCCAS PERSONALITY WHICH ARE INSPIRATIONAL ARE TRANSPARENCY IN BUSINESS, HONESTY WORK ETHIC AND A PASSION TO DO SOMETHING EVEN WHEN THE CHIPS ARE DOWN!!!
THANK YOU
