Donald Petersen, the former chairman and CEO of Ford, known for his pivotal role in shaping the automotive giant, passed away at 97. Petersen, who led Ford from 1985 to 1990, spent over four decades with the company, leaving a lasting legacy that extended beyond his tenure.
His leadership was marked by significant achievements, most notably the introduction of the Taurus, which became a bestseller in the 1980s. However, Petersen’s most memorable act was his decision to preserve the essence of the Mustang during the mid-’80s, when there were plans to reimagine it without a V-8 engine on a front-wheel-drive platform. Responding to public backlash and a barrage of criticism, Petersen wisely scrapped the idea, redirecting the engineering efforts to what would become the Ford Probe, developed in collaboration with Mazda.
Petersen’s impact extended beyond product decisions. Under his leadership, Ford acquired Aston Martin Lagonda, Ltd. in 1987 and later purchased Jaguar Cars for $2.5 billion in 1989, expanding the company’s portfolio and global reach.
His commitment to excellence and innovation was recognized with numerous awards, including induction into the Automotive Hall of Fame in 1992 and being named “CEO of the Year” by Chief Executive magazine in 1989. He was also a recipient of the Industry Leader of the Year Award and a Distinguished Service Citation Award from the Automotive Hall of Fame in 1987.
Despite his achievements, Petersen remained humble and focused on collaboration. Colleagues and industry experts remember him for his direct approach to problem-solving and his ability to foster a collaborative work environment. While he occasionally clashed with the Ford family, his dedication to the company’s success and his vision for its future was unwavering.
Petersen’s passing is mourned by his family, including his wife, daughter, son, granddaughter, and two great-granddaughters. Funeral arrangements are private, honouring his life and legacy within the Ford community and the automotive industry at large.
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