Word: iacocca
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Dates: during 1960-1969
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...look is not the result of Ford's soaring sales-which were up 23% for the first quarter-but of a new auto accessory that Ford hopes will increase its sales even more. Board Chairman Henry Ford II has one in his Lincoln Continental; Vice President Lee Iacocca has one in his red Mustang. Using one on the way home makes Ford Division General Manager Donald Frey feel that he is "sitting in the middle of Carnegie Hall." The device, which Ford this week announced will be offered in most of its 1966 models: a dashboard stereotape player that...
Detroit's hottest automaker, as a result, is Ford Division General Manager Lee Iacocca, 40 (TIME cover, April 17), who not only fathered the Mustang but ran his division so well that Ford in 1964 ate heavily into Chevrolet's predominant share of the middle-priced auto market...
Last week Iacocca got his reward. Piling his personal gear into a bright red Mustang, he sped the half-mile from his office to corporate headquarters in Dearborn, where he moved into the vacant office of group vice president, Iacocca, an executive noted for his hard salesmanship, will not only be in charge of all Ford cars and trucks -accounting for 80% of the company's sales-but of Ford of Canada and Lincoln-Mercury...
...Into Iacocca's place as division vice president-general manager will move a man who also has been intimately involved in the conception and success of the Mustang: Assistant General Manager Donald Nelson Frey, 41, who engineered the Mustang from its beginning as the division's product planner. An assistant professor in metallurgy at the University of Michigan before he joined Ford in 1951, Frey is Detroit's most uncommon auto executive, a sort of thinking man's automaker. He speaks Russian and French, is an opera and archaeology buff, reads such publications as Red China...
...promotion of Frey and Iacocca, both engineers, emphasizes the returning role of the engineer in Detroit, where the engineer predominated in earlier days but the stylists have taken most bows of late. As the Society of Automotive Engineers held its annual congress in Detroit last week, it could boast some top men as members: General Motors President John Gordon and G.M. Group Vice President Edward Cole are both engineers; so are four of Cole's five division vice presidents and Chrysler Vice President B. W. Bogan. The huge, complex auto companies are still marshaled by financial experts but, says...