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Former Ford CEO Philip Caldwell dies at age 93

Philip Caldwell
Photo credit: Ford Motor Company

Philip Caldwell Photo credit: Ford Motor Company

DETROIT (AP) - Ford Motor Co. says its former chairman and CEO Philip Caldwell has died at his home in New Canaan, Conn.

Caldwell was the first person to lead the automaker who wasn't a member of the Ford family.

The company says in an obituary that Caldwell died Wednesday of complications from a stroke. He was 93 years old.

Caldwell was named CEO in 1979 and board chairman in 1980. He retired from Ford in 1985 after 32 years with the company. During his time as CEO Ford turned from billions in losses back to profitability.

He also fostered development of the Taurus sedan, which became the top-selling car in America for several years and helped to save Ford from financial ruin.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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