Lee Iacocca, one of the leading auto industry executives, passed away on Wednesday at the age of 94. At Ford, Iacocca rose through the ranks to become president of the company in 1964. In 1978, Iacocca was fired after clashing with Ford chief Henry Ford II. A few months into the job, Iacocca had persuaded the US federal government to guarantee $1.2 billion in loans to the company. Following his resignation from the company in 1992, Iacocca invested in various ventures including electric bicycles, casinos and a line of imported olive oil products.

Source: Indian Express July 03, 2019 04:41 UTC