Ford Motor Company fires its president, Lee Iacocca
July 14, 2021 @ 12:00 am
On this day in 1978, Ford Motor Company chairman Henry Ford II fired Lee Iacocca as Ford’s president. News of the firing shocked the industry, but it turned into a positive turn for Iacocca. The following year, he was hired as president of the Chrysler Corporation, and is credited with leading the company back from the brink of bankruptcy.