Alan Mulally has no regrets in the 8 years spent as CEO of Ford

Article by Christian A., on May 12, 2014

Alan Mulally is very proud of his eight-year performance and has no regrets as chief executive of Ford Motor Co., he said during his final annual meeting at the carmaker. He also gave a vote of confidence to his successor, Marks Field, saying that the leadership team, the management system and the strategy is solid.

Fields, Ford’s chief operating officer, will succeed Mulally as CEO effective July 1, 2014. Mulally has disclosed that he is retiring on the said date, which comes six months earlier than planned.

Mulally came on Ford board in 2006 and was responsible for turning around the beleaguered carmaker by globalizing new models, trimming costs, improving technology and revamping its offerings with fuel-efficient vehicles.

During the annual meeting, Mulally received repeated praises from shareholders, with Arthur Knechtel of Chadds Ford, Pennsylvania, leading a standing ovation. Knechtel also asked Executive Chairman Bill Ford to keep Mulally on in some capacity at the carmaker. William MacNamara, a shareholder from Westport, Connecticut, told the CEO that he have “instilled the American spirit back” into the carmaker.

Mulally remarked that the most important priority for now is to complete the transition. Under his wing, Ford was able to turn three years of losses at $30.1 billion into five years of earnings at $42.3 billion.

The carmaker saw its sales in the United States surge 11 percent in 2013, thanks to high demand for Ford Escape SUVs, F-Series pickups and Fusion sedans. Fitch Ratings upgraded Ford’s outlook to positive from stable on April 22. [source: Bloomberg]

If you liked the article, share on:

Topics: ford, ceo, alan mulally

Comments

Recommended

Renault Chairman and CEO Carlos Ghosn inaugurated the all-new Alpine A110 production line. This inauguration was attended by the Minister for Economy and Finance of France, Bruno Le Maire, with...
by - December 17, 2017
TOYOTA GAZOO Racing revealed that it will be participating in the 2018 Tokyo Auto Salon with the theme “Meister's Workshop.” The company will showcase models that have been part of...
by - December 16, 2017
Infiniti has commenced sales of the new 2018 Infiniti QX80 full-size luxury sports utility vehicle. Aside from the standard specs and optional features, potential customers would want to know how...
by - December 15, 2017
If there is one thing that Pagani Automobili and Fiat have in common, it is the fact that they are Italian companies that build and assemble vehicles. There is currently...
by - December 15, 2017
It’s Star Wars fever once again, and the second installation of the trilogy sequel -- “Star Wars: The Last Jedi” -- is finally hitting theaters. Avid fans of the franchise...
by - December 15, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries