Video: FoMoCo’s Alan Mulally bear hugs Chrysler’s Sergio Marchionne

Alan Mulally bear hugs Sergio Marchionne

In a warm sentimental moment at an event honoring Lee Iacocca on Saturday night in Detroit, Ford CEO Alan Mulally grabbed Sergio Marchionne and reeled the Chrysler Group CEO in a for a giant bear hug; and of course this was all captured on camera. Iacocca was the first recipient of the Walter P. Chrysler Legacy Award, and was thus honored on Saturday.

Marchionne called Mulally and UAW President Bob King on stage with him to honor Iacocca, saying that “I think the three of us owe a lot to Lee Iacocca for what he set as an example for us to follow. I know that Alan recently released results for the second quarter for Ford and they were spectacular. I’m absolutely envious and jealous.” He added: “It just incited me to try and compete against you.”

That is when Mulally went in for to give Marchionne some action.

Follow the jump for the short video.

– By: Stephen Calogera