Philip Caldwell | Former Ford CEO, 93

Posted: July 14, 2013

Philip Caldwell, 93, the first person to lead Ford Motor Co. who was not a member of the founding family, died Wednesday at his home in New Canaan, Conn.

Mr. Caldwell, who was chief executive officer from 1979 until his retirement in 1985, is credited with leading Ford from deep financial troubles back to profitability. He also fostered development of the Taurus sedan, which became the top-selling car in America for five years and helped 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," Bill Ford, the company's executive chairman, said in a statement. "His dedication and relentless passion for quality always will be hallmarks of his legacy at Ford."

After his retirement, Mr. Caldwell remained on the board of Ford until May 1990. - AP

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