Jeremiah Farrell, the retired president of Chrysler Financial Corp. who played a key role in the survival of Chrysler dealers under Lee Iacocca, died on Feb. 7 following an illness. He was 82.
After serving in the U.S. Marine Corps, Farrell began his career in automotive finance with Associates Discount Corp. in Albany, N.Y. He joined Chrysler Credit in 1967, serving as regional management and vice president of field operations. He was named president of Chrysler Financial in 1985.
“The role of a strong and creative captive financial unit has become critical to success in the U.S. auto industry, and Jerry Farrell has played a key role in the growth and, more importantly, the stability of Chrysler Financial Corp. He can be very proud of his accomplishments and contributions to CFC,” former Chrysler Chairman Bob Eaton said at the time of Farrell’s retirement.
Following his retirement in 1995, Farrell continued to play key consulting roles in the industry. In 2007, he worked on a consulting team that included former Chrysler COO Wolfgang Bernhard and design guru Tom Gale to help advise private equity company Cerberus Capital Management during its purchase of Chrysler Group from what was then known as DaimlerChrysler.
Visitation will be held 3-7 p.m. on Wednesday, Feb. 12, at A.J. Desmond Funeral Home, 32515 Woodward Ave., Royal Oak, Mich. The funeral mass will be held Thursday, Feb. 13, at 11 a.m. at St. Hugo Stone Chapel, 2215 Opdyke Road, Bloomfield Hills, Mich.
