DETROIT -- After five years as CEO of the troubled automotive giant founded by his great grandfather, Bill Ford today ceded operational control to a company and industry outsider, Boeing Co. Executive Vice President Alan Mulally.
The 61-year-old veteran of the airline business was named president and CEO of Ford Motor Co. Mulally, a newcomer to the auto industry, has also been elected to the Ford board of directors.
The move to appoint an industry outsider as CEO comes as Ford is under growing pressure from analysts and investors to right the ship after a $1.44 billion loss in the first half of this year and a nearly 10 percent decline in sales through August.
This Comes as a shock to me, Mulally is a Boeing Veteran who was the leader of the 777 wide body jet program, While I don't see how
he would fit into Ford, he is a very charismatic person and he brought
the 777 into production on time. This looks like a very intresting move on Bill Fords part.
J.
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