Bill Ford announced yesterday morning that he is slipping out from behind the wheel of one of America's largest automakers. Former Boeing aircraft
executive Alan Mulally will take over CEO duties at Ford immediately, while the former CEO focuses on his role as executive chairman and heads up the companies strategic efforts.
Mulally, having led Boeings commercial aircraft division through a turnaround, was credited by Bill Ford as the ideal candidate for the position. Ford has been sailing over troubled waters, and an aggressive plan to streamline the company's operations and regain market share was introduced to carry the company ahead. Full details on the plan, called "The Way Forward", are expected later this month.
The move will see 61 year old Mulally put his 37 years in leadership at Boeing to use for Ford Motor Company. He was also elected to the board of directors. Ford employees expect to hear further details from both executives at a further meeting later this week.
Ford insists that he has no plans to leave the company.
"I was determined that our turnaround effort required the additional skills of an executive who has led a major manufacturing enterprise through such challenges before," he told employees.
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| Alan Mulally (left) and Bill Ford (Photo: Ford Motor Company) |
Mulally, having led Boeings commercial aircraft division through a turnaround, was credited by Bill Ford as the ideal candidate for the position. Ford has been sailing over troubled waters, and an aggressive plan to streamline the company's operations and regain market share was introduced to carry the company ahead. Full details on the plan, called "The Way Forward", are expected later this month.
The move will see 61 year old Mulally put his 37 years in leadership at Boeing to use for Ford Motor Company. He was also elected to the board of directors. Ford employees expect to hear further details from both executives at a further meeting later this week.
Ford insists that he has no plans to leave the company.
"I was determined that our turnaround effort required the additional skills of an executive who has led a major manufacturing enterprise through such challenges before," he told employees.