FCA has released a statement following the passing of auto executive Lee Iacocca, the man whose bold moves — including the introduction of the first minivans — helped lead the company through a period of crisis.

The statement reads as follows:

"The Company is saddened by the news of Lee Iacocca's passing. He played a historic role in steering Chrysler through crisis and making it a true competitive force. He was one of the great leaders of our company and the auto industry as a whole. He also played a profound and tireless role on the national stage as a business statesman and philanthropist.

Lee gave us a mindset that still drives us today – one that is characterized by hard work, dedication and grit. We are committed to ensuring that Chrysler, now FCA, is such a company, an example of commitment and respect, known for excellence as well as for its contribution to society. His legacy is the resiliency and unshakeable faith in the future that live on in the men and women of FCA who strive every day to live up to the high standards he set."

Iacocca spent nearly five decades in the industry, including stints about both Ford and FCA, and is arguably the most recognized auto executive of the past 50 years.