Lee Iacocca

File:1965 - William Allen High School - Postcard - Allentown PA.jpg, in Allentown, Pennsylvania, where Iacocca graduated with honors in 1942, before obtaining mechanical engineering degrees from Lehigh and Princeton Universities]]

Iacocca was born in Allentown, Pennsylvania, on October 15, 1924, to Nicola Iacocca and Antonietta Perrotta, Italian Americans from San Marco dei Cavoti, who settled in the steel producing region of the Lehigh Valley in eastern Pennsylvania. Members of his family opened a restaurant, Yocco's Hot Dogs, which has since grown to include five popular store locations in Allentown and its suburbs.{{Cite web|url=https://www.businessinsider.com/lee-iacocca-life-and-career-biography-photos-chrysler-2019-7|title=Lee Iacocca, the auto-industry titan who saved Chrysler from bankruptcy and launched the Ford Mustang, has died. Here's a look at his incredible life and career.|last=Chang|first=Brittany|date=2019-07-05|website=Business Insider|access-date=2020-01-16}} Iacocca was reportedly christened with the unusual name "Lido" because he was conceived during his parents' honeymoon in the Lido district in Venice. However, he denied the basis for his christened name in his autobiography, calling it romantic but untrue; his father, Iacocca wrote, travelled to Lido long before his marriage with the brother of his future wife.{{cite magazine| title = Leading the fightback: The American car industry faces souring costs, a flood tide of imported competition and a tightening net of legislation. Men like Iacocca have to fight the way out – and he is confident it can be done. An interview by Edouard Seidler (at a time when Iacocca was the President of Ford Motor Company)| series = 134|magazine=Autocar | volume = (nbr 3909)| pages =22–23 |date = February 25, 1971}}

Iacocca attended Allentown High School in Allentown, where he graduated with honors in 1942. He then attended Lehigh University in neighboring Bethlehem, Pennsylvania, where he graduated with a degree in industrial engineering. At Lehigh University, he was a member of Tau Beta Pi, the engineering honor society, and Theta Chi fraternity.

After graduating from Lehigh, he won the Wallace Memorial Fellowship and attended Princeton University, where he earned a master's degree in mechanical engineering in 1946.{{cite web | url=https://paw.princeton.edu/memorial/lee-iacocca-46 | title=Lee A. Iacocca *46 | date=January 2, 2020 }}

{{Further|Ford Motor Company}}

File:Ford Mustang serial number one.jpg convertible from what is considered the first generation of Mustangs. Iacocca was instrumental in the Mustang's development.]]

Iacocca joined Ford Motor Company in August 1946 as an engineer. After this 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 $56 (~${{Format price|{{Inflation|index=US|value=56|start_year=1956}}}} in {{Inflation/year|US}}) in monthly payments for three years.{{cite book|last=Iaccoca|first=Lee|title= Iacocca: An autobiography|year=1984|publisher=Batam Bookes|location= New York|isbn=0-553-38497-X|url= https://archive.org/details/iacoccaautobiogr00iaco_0}} His campaign went national, and Iacocca was called to the Dearborn headquarters, where he quickly moved up through the ranks. On November 10, 1960, Iacocca was named vice-president and general manager of the Ford Division; in January 1965 Ford's vice-president, car and truck group; in 1967, executive vice-president; and president on December 10, 1970.

Iacocca participated in the design of several successful Ford automobiles, most notably the Ford Mustang, the 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 that did not reach the marketplace as Ford products, including cars ultimately introduced by Chrysler: the K car and the minivan. Iacocca also convinced company boss Henry Ford II to return to racing, claiming several wins at the Indianapolis 500, NASCAR, and the 24 Hours of Le Mans.[https://www.nytimes.com/1971/07/18/archives/fords-iacocca-apotheosis-of-a-usedcar-salesman-fords-iacocca.html Ford's Iacocca – Apotheosis of a Used‐Car Salesman], William Seemin, The New York Times, 18 July 1971

Eventually, he became the president of the Ford Motor Company, but he clashed with Henry Ford II. On July 13, 1978, Iacocca was fired from Ford, even though the company posted a $2 billion profit for the year.{{Cite web|url= https://www.latimes.com/archives/la-xpm-1990-03-02-fi-1691-story.html |title= Iacocca Bid to Oust Henry Ford Led to His Firing, New Book Says|date=1990-03-02|website=Los Angeles Times|language=en-US |access-date= 2020-01-30}}

{{main|Ford Pinto}}

In 1968, Iacocca foresaw the need for domestically produced, small, fuel-efficient vehicles,{{cite web |url= http://www.popularmechanics.com/cars/news/industry/top-automotive-engineering-failures-ford-pinto-fuel-tanks |title= The Top Automotive Engineering Failures: The Ford Pinto Fuel Tanks|last= Wojdyla|first=Ben|work=Popular Mechanics |date= May 20, 2011 |access-date= January 5, 2015}} and proposed a vehicle that weighed less than 2,000 pounds and would be priced at less than $2,000 (~${{Format price|{{Inflation|index=US|value=2000|start_year=1968}}}} in {{Inflation/year|US}}). Although Ford's European subsidiary was already selling such a model, the Ford Escort, a team of Ford designers was assigned to create the exterior and interior of an entirely new car, which would be named Pinto. The Pinto entered production beginning with the 1971 model year. Iacocca was described as the "moving force" behind the Ford Pinto.{{cite web | publisher = CEB |url= http://online.ceb.com/calcases/CA3/119CA3d757.htm |title= Grimshaw v. Ford Motor Co. (1981) 119 CA3d 757}}

In 1977, there were allegations that the Pinto's structural design allowed its fuel-tank filler neck to break off and the fuel tank to be punctured in a rear-end collision, resulting in deadly fires. In 1978, all 1971–76 Pintos were recalled and had safety shielding and reinforcements installed to protect the fuel tank.

{{Further|Chrysler}}

Iacocca was strongly courted by Chrysler at a time when the company appeared to be on the verge of going out of business and had just sold its loss-making Chrysler Europe division to Peugeot in an effort to generate cash because the company was losing millions already in North America.Hyde, C. K. (2003). Riding the Roller Coaster: A History of the Chrysler Corporation. Wayne State University Press.

Chicago This was partially due to recalls of its Dodge Aspen and Plymouth Volare, both of which, Iacocca later said, were among the causes for Chrysler's woes and customer dissatisfaction.{{cite web |last1=Niedermeyer |first1=Paul |title=Curbside Classics: Chrysler's Deadly Sin #1 – 1976 Plymouth Volare and Dodge Aspen |url=https://www.thetruthaboutcars.com/2009/10/curbside-classics-chryslers-deadly-sin-1-1976-plymouth-volare-and-dodge-aspen/ |website=The Truth About Cars |date=October 29, 2009 |publisher=AutoGuide.com/The Truth About Cars |access-date=1 January 2021}}{{cite web |last1=Cole-Smith |first1=Steven |title=Lee Iacocca – All-American Automotive Icon |url=https://www.edmunds.com/car-reviews/features/lee-iacocca-all-american-automotive-icon.html |website=Edmunds |date=June 15, 2012 |publisher=Edmunds.com, Inc. |access-date=1 January 2021}} Iacocca joined Chrysler and began rebuilding the entire company from the ground up and bringing in many former associates from Ford.

Also from Ford, Iacocca brought to Chrysler the "Mini-Max" 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 together.

Iacocca arrived shortly after Chrysler's introduction of the subcompact Dodge Omni and Plymouth Horizon. Bearing a strong resemblance to the Volkswagen Rabbit, the front-wheel-drive Omni and Horizon became instant hits, selling over 300,000 units each in their debut year, showing what was to come for Chrysler. The Omni was a derivative of Chrysler Europe's Chrysler Horizon, one of the first deliberately designed "World Cars", which resulted in the American and European cars looking nearly identical externally. However, underneath remarkably similar-looking sheetmetal, engines, transmissions, suspensions, bumpers, and interior design were quite different. Initially the U.S. cars even used VW-based engines (while the European models used Simca engines), as American Chrysler did not have an engine of an appropriate size for the Omni until the 2.2L engine from the Chrysler K-Car became available. Ironically, some later year base model U.S. Omnis used a French Peugeot-based 1.6L engine.

{{Main|Chrysler Corporation Loan Guarantee Act of 1979}}

File:85-89 Dodge Aries sedan.jpg, a Chrysler K-Car]]

File:1st Jeep Grand Cherokee .jpg's design was the driving force behind Chrysler's 1987 acquisition of American Motors Corporation.]]

File:Bush Contact Sheet P19023 (cropped).jpg at the White House in January 1991]]

Realizing that the company would go out of business if it did not receive a large infusion of cash, Chrysler approached the United States Congress in 1979 and requested a loan guarantee. Chairman and CEO John J. Riccardo resigned on September 17, 1979, because he believed that the company would be more likely to receive government aid under new management.{{cite news |last1=Stuart |first1=Reginald |title=Chrysler Chairman Will Retire Early |work=The New York Times |date=September 18, 1979}} His retirement took effect three days later and he was succeeded by Iacocca.{{cite news |last1=Pasztor |first1=Andy |title=Chrysler Elects Iacocca Chairman, Chief And Puts 2 of His Associates in Top Posts |work=The Wall Street Journal |date=September 21, 1979}} Iacocca was able to obtain the guarantee, but Chrysler was required to reduce costs and abandon some longstanding projects, such as the turbine engine, which had been ready for consumer production in 1979 after nearly 20 years of development.

Chrysler released the first of the K-Car line, the Dodge Aries and Plymouth Reliant, in 1981. Similar to the later minivan, these compact automobiles were based on design proposals that Ford had rejected during Iacocca's (and Sperlich's) tenure. Released in the middle of the major 1980–1982 recession, the small, efficient, and inexpensive front-wheel drive cars sold rapidly. In addition, Iacocca re-introduced the big Imperial as the company's flagship. The new model had all of the newest technologies of the time, including fully electronic fuel injection and all-digital dashboard.

Chrysler introduced the minivan, considered Sperlich's "baby", in late 1983. It led the automobile industry in sales for 25 years.{{Cite news |url=http://www.foxnews.com/story/0,2933,476344,00.html|title= After a Quarter Century, Dodge Loses Minivan Crown to Honda |access-date= January 13, 2009 |publisher= Fox News |date= January 6, 2009}} Because of the K-cars and minivans, along with the reforms Iacocca implemented, the company turned around quickly and was able to repay the government-backed loans seven years earlier than expected.

Iacocca led Chrysler's acquisition of AMC in 1987, which brought the profitable Jeep division under the corporate umbrella. It created the short-lived Eagle division. By this time, AMC had already finished most of the work on the Jeep Grand Cherokee, which Iacocca wanted. The Grand Cherokee would not be released until 1992 for the 1993 model year, the same year that Iacocca retired.

Throughout the 1980s, Iacocca, with the help of his longtime friend and advertisement executive, Leo-Arthur Kelmenson, appeared in a series of commercials developed by Kenyon & Eckhardt for the company's vehicles, employing the ad campaign, "The pride is back," to denote the turnaround of the corporation.{{Cite news |last=Vitello |first=Paul |date=2011-09-03 |title=Leo-Arthur Kelmenson, Ad Man Who Helped to Save Chrysler, Dies at 84 |language=en-US |work=The New York Times |url=https://www.nytimes.com/2011/09/04/business/leo-arthur-kelmenson-ad-executive-dies-at-84-helped-to-save-chrysler.html |access-date=2022-07-19 |issn=0362-4331}} He also voiced what was to become his trademark phrase: "If you can find a better car, buy it."{{Cite web|title=Auto Industry Legend and "Miami Vice" Superstar Lee Iacocca Is Dead|url=https://975online.iheart.com/content/2019-07-03-auto-industry-legend-and-miami-vice-superstar-lee-iacocca-is-dead/|access-date=2021-01-12|website=KWTX-FM|language=en}}

Iacocca retired as president, CEO, and chairman of Chrysler at the end of 1992.{{Cite web|last=Taylor|first=Alex|date=1992-04-20|title=Iacocca's Last Stand at Chrysler |url=https://money.cnn.com/magazines/fortune/fortune_archive/1992/04/20/76315/index.htm|access-date=2021-01-12|website=archive.fortune.com}}

File:Ford Mustang Iacocca 05 (3846964214).jpg in April 2009]]

In 1995, Iacocca helped billionaire Kirk Kerkorian attempt a hostile takeover of Chrysler, which was ultimately unsuccessful. The next year, Kerkorian and Chrysler made a five-year agreement which included a gag order preventing Iacocca from speaking publicly about Chrysler.Special Reports: [http://www.detnews.com/specialreports/2002/iacocca/a08-442452.htm Timeline: The career of Lee Iacocca]. – Detroit News. – March 17, 2002.

In July 2005, Iacocca returned to the airwaves as Chrysler's pitchman, along with celebrities such as Jason Alexander and Snoop Dogg, to promote Chrysler's "Employee Pricing Plus" program; the ads reprise the "If you can find a better car, buy it" line, Iacocca's trademark of the 1980s. In return for his services, Iacocca and DaimlerChrysler agreed that his fees, plus a $1 donation per vehicle sold from July 1 through December 31, 2005, would be given to the Iacocca Foundation for type 1 diabetes research.

{{Main|Chrysler Chapter 11 reorganization}}

In an April 2009 Newsweek interview, Iacocca reflected on his time spent at Chrysler and the company's current situation. He said:{{cite magazine|url=http://www.newsweek.com/id/195551|title=It Pains Me|last=Halpert |first=Julie|date=April 30, 2009|magazine=Newsweek|access-date=May 1, 2009}}

{{blockquote|This is a sad day for me. It pains me to see my old company, which has meant so much to America, on the ropes. But Chrysler has been in trouble before, and we got through it, and I believe they can do it again. If they're smart, they'll bring together a consortium of workers, plant managers and dealers to come up with real solutions. These are the folks on the front lines, and they're the key to survival. Let's face it, if your car breaks down, you're not going to take it to the White House to get fixed. But, if your company breaks down, you've got to go to the experts on the ground, not the bureaucrats. Every day I talk to dealers and managers, who are passionate and full of ideas. No one wants Chrysler to survive more than they do. So I'd say to the Obama administration, don't leave them out. Put their passion and ideas to work.}}

Because of the Chrysler bankruptcy, Iacocca lost part of his pension from a supplemental executive retirement plan, and a guaranteed company car during his lifetime. The losses occurred after the bankruptcy court approved the sale of Chrysler to Chrysler Group LLC, with ownership of the new company by the United Auto Workers, the Italian carmaker Fiat and the governments of the United States and Canada.{{cite news|url=https://news.yahoo.com/s/nm/20090529/bs_nm/us_chrysler_iacocca |title=Iacocca losing pension, car in Chrysler bankruptcy |last=Chasan |first=Emily |date=May 29, 2009 |agency=Reuters |access-date=May 30, 2009 |url-status=dead |archive-url=https://web.archive.org/web/20090612074530/http://news.yahoo.com/s/nm/20090529/bs_nm/us_chrysler_iacocca |archive-date=June 12, 2009 }}

{{Further|Iacocca: An Autobiography|Talking Straight}}

{{external media| float = right| video1 = [https://www.c-span.org/video/?197935-1/where-leaders-gone Presentation by Iacocca on Where Have All the Leaders Gone?, April 23, 2007], C-SPAN}}

In 1984, Iacocca co-wrote an autobiography with William Novak: Iacocca: An Autobiography. It was the best selling non-fiction hardback book of 1984 and 1985. The book used heavy discounting, which would become a trend among publishers in the 1980s.{{Cite web|url=https://nymag.com/nymetro/news/media/features/5618/index2.html|title=Now for the Grann Finale|last=Maneker|first=Marion|date=January 1, 2002|website=New York Magazine|access-date=May 23, 2018}} Iacocca donated the proceeds of the book's sales to type 1 diabetes research.

In 1988, with Sonny Kleinfeld, Iacocca co-authored Talking Straight,{{Cite book |isbn = 0-553-05270-5|title = Talking Straight|last1 = Iacocca|first1 = Lee A.|last2 = Kleinfeld|first2 = N. R.|last3 = Kleinfield|first3 = Sonny|year = 1988| publisher=Bantam }} a book meant as a counterbalance to Akio Morita's Made in Japan, a non-fiction book praising Japan's post-war hard-working culture. Talking Straight praised the innovation and creativity of Americans.{{cite book|title=Talking Straight (Hardcover) – Editorial Reviews|website=Amazon|date=June 1988 |publisher=Bantam |isbn=978-0-553-05270-1 |url=https://www.amazon.com/gp/product/0553052705|access-date=May 5, 2008}}

On April 17, 2007, Simon & Schuster published Iacocca's book, Where Have All the Leaders Gone?, co-written with Catherine Whitney.{{Cite web|url=http://www.bookstandard.com/bookstandard/search/article_display.jsp?vnu_content_id=1002650026|archive-url=https://web.archive.org/web/20070213034204/http://www.bookstandard.com/bookstandard/search/article_display.jsp?vnu_content_id=1002650026|url-status=dead|archive-date=February 13, 2007|title=Lee Iacocca Fails Retirement, Writes Book|date=February 13, 2007}}[http://www.bookstandard.com/bookstandard/search/article_display.jsp?vnu_content_id=1002876155 Catherine Whitney reference] {{webarchive|url=https://web.archive.org/web/20071010235128/http://www.bookstandard.com/bookstandard/search/article_display.jsp?vnu_content_id=1002876155 |date=October 10, 2007 }}

Iacocca partnered with producer Pierre Cossette to bring a production of The Will Rogers Follies to Branson, Missouri, in 1994. He also invested in Branson Hills, a 1,400-acre housing development.{{cite news|title=Showbiz makes unlikely stand in Branson, Mo.|first=Army|last=Archerd|newspaper=Variety|date=April 12, 1994|url=https://variety.com/1994/voices/columns/showbiz-makes-unlikely-stand-in-branson-mo-1117862463/|access-date=April 16, 2012}}

In 1993, he had joined the board of MGM Grand, led by his friend Kirk Kerkorian.{{cite news|title=Business in Brief|newspaper=Chicago Sun-Times|date=April 7, 1993|access-date=April 16, 2012|url=http://www.highbeam.com/doc/1P2-4164000.html|archive-url=https://web.archive.org/web/20151017112142/http://www.highbeam.com/doc/1P2-4164000.html|url-status=dead|archive-date=October 17, 2015|publisher=via HighBeam Research}} He started a merchant bank to fund ventures in the gaming industry, which he called "the fastest-growing business in the world".{{cite interview|first=Lee|last=Iacocca|interviewer=Alex Taylor|title='I couldn't just play golf all day'|url=https://money.cnn.com/magazines/fortune/fortune_archive/1994/05/30/79353/index.htm|publisher=Fortune|date=May 30, 1994|access-date=April 16, 2012}} In 1995, he sold his interests in several Indian gaming projects to Full House Resorts, a casino operator led by his friend Allen Paulson, becoming a major shareholder and later a member of the board of directors.{{cite report|url=https://www.sec.gov/Archives/edgar/data/891482/0000950170-99-000482.txt|access-date=April 12, 2012|publisher=Full House Resorts|date=March 31, 1999|title=Form 10KSB}}

Iacocca founded Olivio Premium Products in 1993. Olivio's signature product was an olive oil-based margarine product. Iacocca appeared in commercials for Olivio.{{Cite web|url=https://olivio.com/our-story/|title=Our Story|website=Olivio}}

Iacocca joined the board of restaurant chain Koo Koo Roo in 1995.{{cite news|title=Lee Iacocca Joins Board of Koo Koo Roo Restaurants|date=August 14, 1995|newspaper=Los Angeles Times|access-date=April 16, 2012|url=https://www.latimes.com/archives/la-xpm-1995-08-14-fi-34949-story.html}} In 1998, he stepped up to serve as acting chairman of the troubled company, and led it through a merger with Family Restaurants (owner of Chi-Chi's and El Torito). He sat on the board of the merged company until stepping down in 1999.{{cite news|title=Iacocca to Resign From Koo Koo Roo Board|date=April 17, 1999|first=Greg|last=Hernandez|newspaper=Los Angeles Times|url=https://www.latimes.com/archives/la-xpm-1999-apr-17-fi-28188-story.html|access-date=April 16, 2012}}

In 1997, Iacocca founded Iacocca, a company formed to develop and market electric bikes with a top speed of 15 mph and a range of 20 miles between recharging at wall outlets.{{Cite news|last=Tergesen|first=Anne|date=1997-09-21|title=Investing It; A Bet on Electric Bikes, Or at Least on Lee Iacocca (Published 1997)|language=en-US|work=The New York Times|url=https://www.nytimes.com/1997/09/21/business/investing-it-a-bet-on-electric-bikes-or-at-least-on-lee-iacocca.html|access-date=2021-01-12|issn=0362-4331}} They produced E-Bike SX, which became the first widely popular electric bicycle in the US.{{Cite web|last=eBicycles|title=Facts & Statistics of Electric Bicycles [2020] + Infographic|url=https://www.ebicycles.com/ebike-facts-statistics/|access-date=2021-01-12|website=eBicycles|language=en-US}} In 1999, Iacocca became the head of EV Global Motors.[http://www.encyclopedia.com/doc/1G1-54711595.html Car czar Iacocca now hypes bikes] and small electrical cars based on golf cart technology. {{webarchive|url=https://web.archive.org/web/20071020045222/http://www.encyclopedia.com/doc/1G1-54711595.html|date=October 20, 2007}}

In May 1982, President Ronald Reagan appointed Iacocca to head the Statue of Liberty-Ellis Island Foundation, which was created to raise funds for the restoration of the Statue of Liberty and the renovation of Ellis Island.{{cite web | last1=Krebs | first1=Albin | last2=Thomas | first2=Robert McG. Jr. | title=Notes on People; Iacocca to Head Drive to Restore Landmarks | website=The New York Times | date=May 19, 1982 | url=https://www.nytimes.com/1982/05/19/nyregion/notes-on-people-iacocca-to-head-drive-to-restore-landmarks.html | access-date=June 8, 2019}} Iacocca continued to serve on the board of the foundation until his death.

Following the death of Iacocca's wife Mary from type 1 diabetes, he became an active supporter of research for the disease. He was one of the main patrons of the research of Denise Faustman at Massachusetts General Hospital. In 2000, Iacocca founded Olivio Premium Products, which manufactures the Olivio line of food products made from olive oil. He donated all profits from the company to type 1 diabetes research. In 2004, Iacocca launched Join Lee Now,{{Cite web|url=https://gostart.biz/en/who-is-lee-iacocca/|title=Who is Lee Iacocca?|date=April 16, 2022|website=gostart.biz}} a national grassroots campaign, to bring Faustman's research to human clinical trials in 2006.

Iacocca was an advocate of "Nourish the Children", an initiative of Nu Skin Enterprises,{{Cite web|url=https://www.nuskinenterprises.com/|title=Homepage|website=Nu Skin Enterprises}} since its inception in 2002, and served as its chairman. He helped donate a generator for the Malawi VitaMeal plant.

Iacocca led the fundraising campaign to enable Lehigh University in Bethlehem, Pennsylvania, to adapt and use vacant buildings formerly owned by Bethlehem Steel, including Iacocca Hall on the Mountaintop Campus at the university. These structures currently house the College of Education, the biology and chemical engineering departments, and The Iacocca Institute, which is focused on global competitiveness.

Iacocca played Park Commissioner Lido in "Sons and Lovers", the 44th episode of Miami Vice, which premiered on May 9, 1986.{{Cite web|last=Kaye|first=Lisa|date=2019-07-03|title=Auto Industry Legend and "Miami Vice" Superstar Lee Iacocca Is Dead|url=https://minnesota93.com/2019/07/03/auto-industry-legend-and-miami-vice-superstar-lee-iacocca-is-dead/|access-date=2021-01-12|website=Minnesota93|language=en-US}} The name of the character is his birth name, which was not used in the public sphere due to the trouble of mispronunciation or misspelling.

Iacocca married Mary McCleary on September 29, 1956. They had two daughters. Iacocca's wife died from type 1 diabetes on May 15, 1983. Before her death, Iacocca became a strong advocate for better medical treatment of type 1 diabetes patients, who frequently faced debilitating and fatal complications, and he continued this work after her death.

Iacocca's second marriage was to Peggy Johnson. They married on April 17, 1986, but in 1987, after nineteen months, Iacocca had the marriage annulled. He married for the third time in 1991 to Darrien Earle. They were divorced three years later.

Iacocca resided in the Bel Air section of Los Angeles in his later years."Lee Hits 90!", The Beverly Hills Courier, Volume XXXXVIIII, Number 47, November 28, 2014, p. 22.

On July 2, 2019, Iacocca died at his home in Bel Air, at the age of 94,{{Cite web|url= https://www.cnn.com/2019/07/02/business/lee-iacocca-obituary/ |title=Lee Iacocca, who helped create the Ford Mustang and then rescued Chrysler in the 1980s, has died|last=McLean|first=Rob|date=2019-07-03|website=CNN|access-date= 2020-01-16}} from complications of Parkinson's disease.{{cite web|url= https://www.wsj.com/articles/famed-auto-executive-lee-iacocca-dies-at-94-11562119111|title=Famed Auto Executive Lee Iacocca Dies at 94|work=The Wall Street Journal |date=July 2, 2019}}{{Cite web|url= https://jalopnik.com/auto-industry-legend-lee-iacocca-dead-at-94-1836060734|title=Auto Industry Legend Lee Iacocca Dead at 94|first=Jason|last=Torchinsky|website=Jalopnik|date=July 3, 2019 }}

His funeral mass was held on July 10, 2019, at St. Hugo of the Hills Catholic Church and he was buried at White Chapel Memorial Cemetery in Troy, Michigan.{{cite news |title=Visitation, funeral & burial for Lee Iacocca will be in metro Detroit next week |url= https://www.wxyz.com/news/visitation-funeral-burial-for-lee-iacocca-will-be-in-metro-detroit-next-week |access-date=26 April 2020 | publisher =WXYZ-TV |date=July 3, 2019}}{{cite news |last1=Thibodeau |first1=Ian |last2= Noble |first2=Breana |title=Chrysler hearse is a fitting final ride for Lee Iacocca |url= https://www.detroitnews.com/story/business/autos/2019/07/10/chrysler-ceo-lee-iacocca-funeral/1657942001/ |access-date=26 April 2020 |work=The Detroit News |date= July 10, 2019}}

File:President Bill Clinton meets with Lee Iacocca in 1993.jpg in the Oval Office in September 1993]]

In his 2007 book, Where Have All the Leaders Gone?, Iacocca described how he considered running for president in 1988 and was in the planning stages of a campaign with the slogan "I Like I", before ultimately being talked out of it by his friend Tip O'Neill.

Pennsylvania Governor Bob Casey discussed with Iacocca an appointment to the U.S. Senate in 1991 after the death of Senator John Heinz, but Iacocca declined.

Politically, Iacocca supported the Republican Party candidate George W. Bush in the 2000 U.S. presidential election. In the 2004 U.S. presidential election, he endorsed Bush's Democratic Party opponent, John Kerry.[http://www.cnn.com/2004/ALLPOLITICS/06/24/iacocca.kerry Iacocca and Kerry]. – CNN. – June 24, 2004 In the 2006 Michigan gubernatorial election, Iacocca appeared in televised political ads endorsing Republican candidate Dick DeVos,{{cite web|url=http://clubs.calvin.edu/chimes/article.php?id=2723|archive-url=https://web.archive.org/web/20131202234020/http://clubs.calvin.edu/chimes/article.php?id=2723|url-status=dead|archive-date=December 2, 2013|title=DeVos seeks to turn Michigan around}} who lost. Iacocca endorsed New Mexico governor Bill Richardson for President in the 2008 U.S. presidential election. In the 2012 U.S. presidential election, he endorsed Mitt Romney for president.[http://www.freep.com/article/20121018/NEWS15/121018048/1285 Lee Iacocca endorses Mitt Romney as man of experience], Detroit Free Press, October 18, 2012

On December 3, 2007, Iacocca launched a website to encourage open dialogue about the challenges of contemporary society. He introduced topics such as health care costs, and the United States' lag in developing alternative energy sources and hybrid vehicles. The site also promotes his book Where Have All the Leaders Gone. It provides an interactive means for users to rate presidential candidates by the qualities Iacocca believes they should possess: curiosity, creativity, communication, character, courage, conviction, charisma, competence and common sense.

The high amount of publicity that Iacocca received during his turnaround of Chrysler made him a celebrity and gave him a lasting impact in popular culture. In addition to his acting role in Miami Vice, Iacocca also made appearances on Good Morning America, Late Night With David Letterman and the 1985 Bob Hope TV special Bob Hope Buys NBC?{{Cite web|url=http://www.imdb.com/name/nm2058120/|title=Lee Iacocca|website=IMDb}} while concurrently it was common to see depictions of elderly, bespectacled businessmen with charismatic, salesman-like personas, such as in an ad campaign by the Rainier Brewing Company.{{Citation|title=Rainier Beer – Iacocca Parody| date=October 22, 2007 |url=https://www.youtube.com/watch?v=sersZiCglTI| archive-url=https://ghostarchive.org/varchive/youtube/20211117/sersZiCglTI| archive-date=2021-11-17 | url-status=live|language=en|access-date=2021-07-01}}{{cbignore}} Iacocca's success serving as Chrysler's pitchman influenced other companies to feature executives in their marketing, such as how fast food chain Wendy's has successfully utilized company founder Dave Thomas as a corporate mascot since the early 1990s. Iacocca's image was also invoked by rival automaker Ford in the marketing campaign for the 1993 Mercury Villager minivan, which depicted a competing car company led by an unhappy boss with a physical resemblance to Iacocca viewing the Villager with consternation because it is outselling their minivan.{{Citation|title=Mercury Villager – January 1993 – Commercial| date=July 29, 2007 |url=https://www.youtube.com/watch?v=yPXssAvAhaw| archive-url=https://ghostarchive.org/varchive/youtube/20211117/yPXssAvAhaw| archive-date=2021-11-17 | url-status=live|language=en|access-date=2021-07-01}}{{cbignore}} Fictional businessmen and middle managers, such as Michael Scott on The Office, have been shown reading Iacocca's books and attempting to emulate his methods. In a manner similar to Ronald Reagan, period pieces produced in subsequent decades have used images of Iacocca and the Chrysler K-car to invoke the 1980s. The 2009 film Watchmen, which is set in an alternative history 1985, took this in a unique direction by showing Iacocca (portrayed by Walter Addison) being assassinated by the film's antagonists, which has been said to have angered Iacocca when he learned about it.{{Cite web|url=http://www.mtv.com/news/2593691/lee-iacocca-is-alive-and-well-and-not-looking-forward-to-watchmen-movie/|archive-url=https://web.archive.org/web/20160115193439/http://www.mtv.com/news/2593691/lee-iacocca-is-alive-and-well-and-not-looking-forward-to-watchmen-movie/|url-status=dead|archive-date=January 15, 2016|title=Lee Iacocca Is Alive And Well -- And Not Looking Forward To 'Watchmen' Movie|first=Larry|last=Carroll|website=MTV News}}

In Ordinary People, a song from Neil Young released in Chrome Dreams II and Bluenote Café, Lee Iacocca is quoted in the lyrics as a notable representative of the capitalistic world.

Iacocca, portrayed by Jon Bernthal, is a major character in the 2019 film Ford v Ferrari, which is a dramatization of the 1960s Ford GT40 program. The film was released shortly after Iacocca's death.

Tom Paxton wrote a song about the bailouts called "I Am Changing My Name To Chrysler," which mentions Iacocca prominently in the chorus. It was critical of the bailout for serving corporate interests ahead of supposed good business or capitalist principles.

He was also portrayed by Phil Hartman on Saturday Night Live.{{Cite web|url=http://www.snlarchives.net/Impressions/?803|title=SNL Archives | Impression | Lee Iacocca|website=www.snlarchives.net}}

He is also referenced in The Arrogant Worms' ode to a Chrysler vehicle, "Horizon."

In 1985, Iacocca received the S. Roger Horchow Award for Greatest Public Service by a Private Citizen, an award given out annually by Jefferson Awards.{{cite web|url=http://www.jeffersonawards.org/pastwinners/national|title=National – Jefferson Awards Foundation|access-date=August 5, 2013|archive-url=https://web.archive.org/web/20101124043935/http://jeffersonawards.org/pastwinners/national|archive-date=November 24, 2010|url-status=dead}}

• Iacocca, Lee and William Novak (1986 reissue). Iacocca: An Autobiography. Bantam. {{ISBN|0553251473}}
• Iacocca, Lee and Sonny Klenfield (1988) Talking Straight. Bantam. {{ISBN|0-553-05270-5}}
• Liberty for All, Peter B. Kaplan, Lee Iacocca, Barbara Grazzini, 2002 {{ISBN|0966333713}}
• {{Cite book|author=Iacocca, Lee|title=Where Have All the Leaders Gone|publisher=Scribner|year=2007|isbn=978-1-4165-3247-7|url=https://archive.org/details/wherehavealllead00iaco}}

• Ford Mustang Iacocca Silver 45th Anniversary Edition
• Ford Carousel garageable van project

{{Portalbar|United States|Biography|Cars}}

{{Reflist|33em}}

• {{Cite book| author=Vlasic, Bill and Bradley A. Stertz| title=Taken for a Ride: How Daimler-Benz Drove off with Chrysler| publisher=William Morrow & Company| year=2000| isbn=0688173055| url=https://archive.org/details/takenforridehowd00vlas}}

{{wikiquote}}

{{commons category}}

• [http://www.iacoccafoundation.org/ Iacocca Foundation]
• {{C-SPAN|5393}}
• [https://www.npr.org/templates/story/story.php?storyId=9839029 Iacocca Says "Detroit Is Living in the Past"], National Public Radio
• [https://web.archive.org/web/20071019024057/http://heritage.web.lehigh.edu/index.php/Iacocca,_Lee Lehigh University Engineering Heritage Initiative Iacocca Biography]
• {{find a Grave|200770928}}

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{{succession box | before=Semon Knudsen | title=President of the Ford Motor Company | after=Philip Caldwell | years=December 10, 1970–July 13, 1978}}

{{succession box | before=John J. Riccardo | title=President of the Chrysler Corporation | after=Bob Lutz | years=November 2, 1978–January 14, 1991}}

{{succession box | before=John J. Riccardo | title=Chairman and CEO of the Chrysler Corporation | after=Robert James Eaton | years=September 20, 1979–December 31, 1992}}

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{{Chrysler Group LLC}}

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