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Chrysler was founded by Walter Chrysler on June 6, 1925, [1] when the Maxwell Motor Company (est. 1904) was re-organized into the Chrysler Corporation. [2]Walter Chrysler had originally arrived at the ailing Maxwell-Chalmers company in the early 1920s, having been hired to take over and overhaul the company's troubled operations just after a similar rescue job at the Willys car company.
Walter Percy Chrysler (April 2, 1875 – August 18, 1940) was an American industrial pioneer in the automotive industry, American automotive industry executive and the founder and namesake of American Chrysler Corporation.
The Chrysler company was founded by Walter Chrysler on June 6, 1925, [12] [13] when the Maxwell Motor Company (est. 1904) was re-organized into the Chrysler Corporation. [14] [15] The company was headquartered in the Detroit enclave of Highland Park, [16] [17] [18] where it remained until completing the move to its present Auburn Hills location in 1996.
Lido Anthony "Lee" Iacocca (/ ˌ aɪ. ə ˈ k oʊ k ə / EYE-ə-KOH-kə; October 15, 1924 – July 2, 2019) was an American automobile executive who developed the Ford Mustang, Continental Mark III, and Ford Pinto cars while at the Ford Motor Company in the 1960s, and then revived the Chrysler Corporation as its CEO during the 1980s. [1]
On July 27, 1961, Chrysler chairman and president Lester Lum Colbert resigned amid a conflict of interest scandal. He was succeeded as chairman by George H. Love and as president by Townsend. [ 5 ] Love, who worked part-time due to his duties with Consolidation Coal , was the company's chief policy officer and Townsend served as the company's ...
He was given the additional role of Chrysler Corporation vice president in 1953 and was elected to the board of directors the following year. [2] As part of an executive shuffling in 1956, Newberg was named to the new position of group vice president-automotive, which supervised all of Chrysler's vehicle and Mopar divisions. [3]
He quickly rose to become a vice president of Chevrolet in 1921, later becoming a vice president for Chrysler. From 1935 to 1950 he served as Chrysler's president and then as its chairman of the board until 1956. [3] Under his leadership, Chrysler became second among the world's largest auto producers, with sales exceeding $1 billion in 1947.
He reduced the size of Chrysler's car inventory, which had left the manufacturer with $200 million in unsold vehicles during the recession. [8] In 1978, Chrysler brought on recently dismissed Ford president Lee Iacocca to help turn around the struggling auto maker. [9] In 1979, Chrysler sought assistance from the federal government.