Ford Chief Alan Mulally Not To Exit Earlier Than Planned

0
Ford Chief Alan Mulally Not To Exit Earlier Than Planned
EME / Pixabay

Ford Motor Company (NYSE:F) CEO Alan Mulally simply downplayed reports that he may step down earlier than planned. In an interview with CNBC, Mulally said that he is absolutely committed to his responsibility at Ford Motor Company (NYSE:F). Alan Mulally said he loves serving the No.2 U.S. automaker.

Ford Chief Alan Mulally Not To Exit Earlier Than Planned

Ford to stick to its succession plan

Alan Mulally’s statement comes after Reuters reported that Ford Motor Company (NYSE:F)’s board of directors is open to let the CEO step down sooner than his planned exit at the end of 2014. Citing anonymous sources, Reuters said that Mulally is exploring other options. Late last month, AllThingsD said that Alan Mulally could be appointed as the interim CEO of Microsoft Corporation (NASDAQ:MSFT). Reuters also added that Ford Motor Company (NYSE:F)’s board of directors is pitching chief operating officer Mark Fields. Mr. Fields is likely to be the next CEO of the company.

Seth Klarman’s 2021 Letter: Baupost’s “Never-Ending” Hunt For Information

Baupost's investment process involves "never-ending" gleaning of facts to help support investment ideas Seth Klarman writes in his end-of-year letter to investors. In the letter, a copy of which ValueWalk has been able to review, the value investor describes the Baupost Group's process to identify ideas and answer the most critical questions about its potential Read More

Last year, Ford Motor Company (NYSE:F) outlined a succession plan. According to the plan, Alan Mulally is supposed to stay in his position at least until the end of 2014. But after Reuters‘ report, investors began to offload Ford Motor Company (NYSE:F) shares.

In a separate statement, Ford Motor Company (NYSE:F) spokesman Jay Cooney said that Alan Mulally isn’t leaving anytime soon. Cooney said the automaker has made no changes in its succession plan announced in November 2012. The official statement from the company ended all speculations about his exit.

Alan Mulally: A hero for Ford

In 2006, Ford Motor Company (NYSE:F) brought Alan Mulally from The Boeing Company (NYSE:BA) when the automaker was on the verge of collapse. The company had posted a net loss of $12.7 billion in 2006. Alan Mulally is known for simplifying the company’s product development, implementation of “One Ford” strategy, creating a collaborative atmosphere and repositioning Ford Motor Company (NYSE:F) as a strong and profitable company. He sailed Ford Motor Company (NYSE:F) through the financial crisis, while giants like General Motors Company (NYSE:GM) and Chrysler Group LLC had to seek federal bailouts.

Ford Motor Company (NYSE:F) shares were down 1.50% to $17.04 at 10:17 AM EDT.

Updated on

No posts to display