Bill Ford quits, appoints Boeing executive

[ltd]

"STRUGGLING US auto giant Ford Motor Company announced today it was naming former Boeing executive Alan Mulally as its new president and chief executive, with family heir Bill Ford keeping the executive chairman post.

Mr Mulally, 61, has been president and chief executive officer of Boeing Commercial Airplanes since 2001.

"Mulally led the turnaround of the commercial airplane division of The Boeing Company,'' the US automaker said in a statement.

"He has a record of success in customer satisfaction, manufacturing, product development, labour relations and supplier management.''

The company said Bill Ford, who had been holding the dual position of chairman as well as chief executive since 2001, will remain executive chairman and "will concentrate efforts on strategic repositioning of Ford Motor Company.''

"Let me assure you: I'm not going anywhere,'' Bill Ford wrote in an email to Ford employees.

"As executive chairman, I intend to remain extremely active in the direction of this company. I'll be here every day and I will not rest until a prosperous future for this company is secured.''

The move came as Ford was moving to accelerate its turnaround in the face of widening losses and declining sales in the US market.

Bill Ford said in his email that the turnaround effort "required the additional skills of an executive who has led a major manufacturing enterprise through such challenges before.''

Mr Mulally "also has the personality and team-building skills that will help guide our company in the right direction,'' Mr Ford said.

"Clearly, the challenges Boeing faced in recent years have many parallels to our own.''

Mr Mulally, a Boeing veteran of 37 years, said he looked forward to the challenge of helping Ford regain its former lustre.

"I think the opportunity to work with Bill Ford and Ford Motor Company is the only thing that could have attracted me to a job other than Boeing, where I have so many great friends and memories,'' Mr Mulally said".

Looks like someone who was instrumental in turning Boeing around is now going to try and turn Ford around. I have witnessed some of Alan's genius in the things he did at boeing, like the new 787 that is already profitable before even flying. Looks like good fortunes at Ford in the years to come.