Bill Ford Jr. promised "radical" change as part of Ford Motor Co.'s bid to transform its North American car and truck business. On Tuesday, he delivered.
In a move unprecedented in Ford's 103-year history, the great-grandson of founder Henry Ford replaced himself as CEO with a 37-year veteran of the aerospace industry who freely admits he isn't a "car guy" -- "Can you make me a car guy?" Ford's new president and CEO Alan Mulally asked me -- and drives a Lexus.
This has "risk" written all over it. Not because Mulally, 61, doesn't come highly recommended, because by most accounts the head of Boeing Co.'s commercial aircraft division does. Bill Ford says Ford director John Thornton asked General Electric Chairman Jeffrey Immelt's opinion of Mulally, and the new Ford CEO received "five stars" -- evidently more than the industry players Bill Ford says he considered.
Read Article