Iacocca, Lee A. - Investment & Finance Definition
A force in the auto industry who is credited with rescuing Chrysler Corp. from the brink of bank- ruptcy in the late 1970s. Iacocca obtained loan guarantees from the U.S. government and was able to return the company to profitability in the 1980s, after he negotiated concessions from the company’s union. Prior to joining Chrysler, he helped launch the Mustang, one of Ford’s most popular cars.