Ford out, Mulally in

Today, Bill Ford announced that he is stepping down as President and CEO of Ford Motor Company and that the company’s board of directors selected Alan Mulally, former Executive VP of Boeing Company and President and CEO of Boeing Commercial Airplanes, to take his place. Bill Ford, the great-grandson of Henry Ford, will remain Ford’s chairman.

Personally, I am behind this move.

I give Bill Ford credit for giving the job a try – I can’t even comprehend running an organization that size – and having the maturity and humility to admit that the company is in trouble and needs someone experienced in turnarounds and running a mammoth company to help it.

I am also happy with the BOD’s choice in Alan Mulally, not just because he has a long history at Boeing or led its turnaround, but also because Mulally is familiar with the quality-component of foreign competitors and truly believes that American companies have the ability to reach, and even surpass, their high levels. He’s also shown that it can be done.

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