After more than a year of speculation that he might be on his way to the greener-pastures of Microsoft, Ford has confirmed that Alan Mulally (68) will step down as president and CEO of Ford on June 30th – making way for veteran Ford executive, Mark Fields, to take over the role. Mulally, formerly of Boeing, has been in charge of Ford Motor Company since 2006 and company chairman and founder Henry Ford’s great-grandson, Bill Ford, described Mulally as a ‘hall-of-fame CEO,’ for the way the talisman has led the company over the last eight years.
‘Under Alan’s leadership, Ford not only survived the global economic crisis, it emerged as one of the world’s strongest car companies,’ Bill Ford said. ‘We always will be grateful to Alan for his leadership, compelling vision and for fostering a culture of working together that will serve our company for decades to come.’
Once a struggling automaker in the same boat as Detroit’s General Motors and Chrysler, Mulally refused a government-backed loan in 2009 and the company went on to post 19 consecutive profitable quarters instead, with a total profit of $8.5 billion in 2013. Mulally will be succeeded by Mark Fields (53) who has been with Ford for 25 years and is currently the company’s COO. Fields is best known for the time he spent as CEO of Mazda during the ‘zoom-zoom’ era of the early 2000s.