John riccardo chrysler wikipedia




John riccardo chrysler wikipedia

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  • John Riccardo, former CEO of Chrysler, reminds us that business people who know their limitations and are willing to do what's best for others.

    John Riccardo, the Chrysler chairman at the time of the company's brush with bankruptcy and the person who lured Lee Iacocca away.

    John J. Riccardo, who as chairman and chief executive of Chrysler recruited Lee Iacocca before stepping aside as the automaker neared.

    John riccardo chrysler wikipedia

    John riccardo chrysler wikipedia

    Il Corriere della Sera in Italian. Nicola Caracciolo , 2nd Duca di Melito Their third child, a girl named Vita Italian for life Talita was born on 23 January Have an opinion about this story? Send us a Letter.

    John riccardo chrysler wikipedia

    John riccardo chrysler wikipedia

    John riccardo chrysler wikipedia

    John riccardo chrysler wikipedia

    John riccardo chrysler wikipedia

    John Riccardo, Chrysler CEO who helped recruit Iacocca, dies at 91

    You must have an Automotive News subscription to view the digital edition. Click here to subscribe. Riccardo said during his homily. But he abruptly retired as chairman and CEO at age 55 in September as an ailing Chrysler aggressively courted Congress and the Carter administration for a financial lifeline.

    His unexpected retirement came about 48 hours after Chrysler was rebuffed by U. Miller had dismissed the request, detailed in a page survival plan crafted by Riccardo, as "way out of line. Riccardo had been hospitalized with a cardiac ailment months earlier in May , and doctors advised him at that time to retire immediately. Riccardo was born in Little Falls, N.

    John riccardo chrysler wikipedia

    He was the son of an Italian immigrant who built bicycles for a living. He met his wife, Thelma, in a freshman Spanish class at the University of Michigan. They were married for 66 years. Riccardo, a certified public accountant and protege of longtime Chrysler chairman and CEO Lynn Townsend , joined Chrysler in as a finance executive on the international operations staff.

    He later was promoted to vice president of Chrysler Canada, assistant general manager of the Dodge car and truck division and the Chrysler-Plymouth division, and vice president of marketing for Chrysler Corp.

    John riccardo chrysler wikipedia

    Riccardo was appointed president in January after Chrysler successfully restructured, succeeding Virgil E. Boyd, who became vice chairman, a new post. He was named chairman and CEO in October , succeeding Townsend, his longtime mentor, after steering another wave of cost reductions. His tough-mindedness and keen cost-cutting skills earned Riccardo another nickname from colleagues: He was also known for a short fuse and hot temper.

    Critics said Riccardo failed to make key product and investment moves -- such as the timely introduction of a compact car in the s, when gasoline prices soared -- and was slow to match new offerings from bigger rivals Ford and General Motors. Chrysler engineers, facing ever strict government fuel economy mandates, were debating whether to adopt front-wheel drive with some models. In the end, Riccardo made the call to spend more and go with front-wheel drive, a decision that helped Chrysler recover in the early s and eventually spawned the minivan starting in The two men gained first hand knowledge of the auto industry through key auditing assignments at Touche, Ross -- Townsend on the American Motors and Chrysler accounts and Riccardo with Kaiser-Frazer.

    When Townsend left the firm to become Chrysler comptroller in , the two men agreed that if Riccardo ever decided to leave Touche, he would contact Townsend. As chairman and CEO of Chrysler, Riccardo waged public battles with Washington regulators over safety and environmental laws, insisting the company, one of Detroit's smallest automakers, could not pass the costs of new rules along to U.

    John riccardo chrysler wikipedia

    The sale made Peugeot the largest auto company in Europe at the time. But with Chrysler still failing, Riccardo called on President Jimmy Carter in early to create an independent watchdog to assess the impact of government regulations on the auto industry. When that idea failed, he pitched a tax credit designed to allow Chrysler to recover money spent meeting government safety and pollution standards.

    The company was bleeding red ink. Reich and John D. John Riccardo takes on himself all the sins of commission and omission, we drive him into the woods, and the company is pure again. Several Chrysler directors and Riccardo first reached out to Iacocca in after Iacocca had been fired as president of Ford Motor Co. But several weeks later, pale and drawn and severely fatigued over the negotiations to save Chrysler, Riccardo decided to step down early.

    Lee Iacocca



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