Ford Motor Co. Chief Executive Officer Alan Mulally, who has said he has no plans to retire, likely will be replaced by an executive inside the company when he does decide to step down, Executive Chairman Bill Ford said.
“I really like our inside talent,” Ford told reporters today at an event on Mackinac Island in Michigan. “It would be very unusual if we didn’t pick somebody from the inside.”
Mulally, 65, joined Ford from Boeing Co. in 2006 and helped turn the automaker around by revamping its model lineup with a focus on quality and fuel-efficiency. He said at Ford’s annual meeting last month that he planned to stay with the automaker as it works to regain its investment-grade credit rating.
Mulally holds “Business Performance Review” meetings with about 15 top executives on Thursdays that are helping “train the next generation,” Ford said. The gatherings encourage executives to learn about and become involved in all facets of the company, rather than remaining in their own areas, Ford said.
“Everybody in the meeting has access to all the information, all the issues facing the company,” Ford said. “It will be a much better trained group of executives when Alan does decide to leave.”
Ford fell 11 cents to $14.07 at 2:15 p.m. in New York Stock Exchange composite trading. The shares dropped 16 percent this year before today.
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