John Riccardo

Riccardo was born on July 2, 1924 in Little Falls, N.Y., the son of an Italian immigrant who built bicycles. He was World War II veteran who helped reconstruct Burma Road the U.S. needed to supply allies in Asia. He earned undergraduate degrees in economics from the University of Michigan He was married for 66 years to his wife, Thelma. Early in his auto industry career Riccardo worked with the Kaiser Frazier Corp. Lynn Townsend who led American Motors Co. then Chrysler, recruited Riccardo to Chrysler in 1959, quickly moving up to head various divisions. He became Chrysler president in 1970, an chairman in 1975 when Mr. Townsend left. During his leadership Riccardo confronted numerous financial challenges as the Arab oil embargo sparked demand for smaller cars, which caught Chrysler off-guard, resulting in a series of cost-cutting moves which earned him the nickname “The Flamethrower.” Riccardo recruited Ford executive Lee Iacocca to come to Chrysler as president in late 1978. Iacocca then succeeded Riccardo when he stepped down in 1979, at age 55, after the Carter administration rejected his request for aid. Iacocca later call Riccardo's decision a heroic act. Mr. Riccardo, who lived in the Detroit suburb of Birmingham, Mich., is survived by his wife, Thelma; and five children, Mary Kay Billington, Terry Riccardo, Lynn Duffy, Peter Riccardo and the Rev. John Riccardo. He received his bachelor’s and master’s degrees in economics from the University of Michigan.