In a May 12, 1977, file photo, Ford Chairman of the Board Henry Ford II, center, shuffles papers before calling the Ford Motor Company’s annual stockholders meeting to order in Detroit. At Ford’s left is Philip Caldwell, vice chairman of the board. Cauldwell, the first person to lead Ford Motor Co. who wasn’t a member of the founding family, died Wednesday, July 10, 2013 at his home in New Canaan, Conn., at the age of 93.DETROIT – Philip Caldwell, the first person to lead Ford Motor Co. who wasn’t a member of the founding family, died Wednesday at his home in New Canaan, Conn., at the age of 93.
Caldwell, who was CEO from 1979 until retirement in 1985, is credited with leading Ford from deep financial troubles back to profitability. He also fostered development of the Ford Taurus sedan, which became the top-selling car in America for five years and helped to save the company from financial ruin.
“He helped guide the company through a difficult turnaround in the 1980s and drove the introductions of ground-breaking products around the globe,” Ford Executive Chairman Bill Ford said in a statement. “His dedication and relentless passion for quality always will be hallmarks of his legacy at Ford.”
Caldwell was named CEO in 1979 and board chairman in 1980. He retired in 1985 after 32 years with the company, but remained on the board until May of 1990. He replaced Henry Ford II as CEO and was picked shortly after high-profile President Lee Iacocca was fired and later joined crosstown rival Chrysler.
An obituary provided by the company said Caldwell died of complications from a stroke at his home in Connecticut, where he had lived since his retirement.