BREAKING! Bill Ford To Step Down As President And CEO, Names Boeing's Alan Mulally

* Mulally led turnaround of the commercial airplane division of The Boeing Company. He has a record of success in customer satisfaction, manufacturing, product development, labor relations and supplier management.
* Bill Ford, as executive chairman, will concentrate efforts on strategic repositioning of Ford Motor Company.

DEARBORN, Mich., Sept. 5 - Ford Motor Company announced today that it has elected Alan Mulally as president and chief executive officer. He has also been elected to the Board of Directors.

Bill Ford will continue his duties as executive chairman of the company.


Rest of the press release after the jump.

"One of the three strategic priorities that I've focused on this year is company leadership. While I knew that we were fortunate to have outstanding leaders driving our operations around the world, I also determined that our turnaround effort required the additional skills of an executive who has led a major manufacturing enterprise through such challenges before," Bill Ford wrote in an email to Ford employees today.

Read Article

chewy - 9/5/2006 4:39:42 PM

+1 Boost

So what does this mean?

webguy - 9/5/2006 4:56:10 PM

+1 Boost

Wow! I guess Bill Ford does care about the fate of his company and his father's legacy. Good move.

I don't know much about Alan Mulally; but it looks as though he was a good choice. Can't wait to see the results, hopefully Ford becomes a major force again.

iown1 - 9/5/2006 5:12:44 PM

+1 Boost

I'm with you Will. The co. is on the ropes but I for one would like to see Ford turn around. As it stands they have no where to go but up. They need to get some good designers and figure out how to make that blue oval cool again.

kart1 - 9/5/2006 5:30:56 PM

+1 Boost

This looks like good news. Ford may come back again if Mulally plays his cards right. Better products to come I hope. I wonder when Wagoner going to go?

BavarianMotorrad - 9/5/2006 5:56:57 PM

+1 Boost

Lets not jump to any conclusions here boys and pat them on the back just yet. Personally, I would like to see the company rebound but it will be a long process if they are to succeed.

SteveL - 9/5/2006 6:33:34 PM

+1 Boost

Its about time!
This is a good move but there is way more they could do right now if they would just listen to the typical person instead of listening to the idiots that are screaming the loudest.

Neverfollow - 9/5/2006 7:48:59 PM

0 Boost

Okay,

So Mulally turned Boeing around. What did they have, one major competitor to deal with? How many product lines, 5-6? Let's see how he does with 38 major competitors and dozens of product lines within each one. This guy has his work cut out for himself. He is going to need a lot of help.

Homer008 - 9/5/2006 9:01:05 PM

-2 Boost

I hope Bill Ford gets hired at the Audi POS farm in Mexico or germany.

urbansouljah - 9/5/2006 9:24:57 PM

+1 Boost

All Ford needs is styling like the concepts they have shown recently and more fuel efficient vehicles. It's not that hard. It's not like Ford has been losing money for years. This is a recent thing.