Lee Iacocca – Steps Down

Lee Iacocca steps down and Bob Eaton is appointed as Chrysler Chairman. Bob Lutz is there to show his support. Eaton was lured away from General Motors where he was on the fast track to the Presidency. His appointment at Chrysler derailed the rise of Bob Lutz who would eventually go to work for General Motors and help that company revitalize its product line up. Eaton’s tenure at Chrysler was short but very profitable for him. He engineered a ‘merger of equals” with Daimler that resulted in an enormous boost in value of his Chrysler stock.