September 6, 2006 |
Less than five years after taking the helm of the company founded by his great-grandfather, William Clay Ford Jr. said Monday that he was handing the keys to Ford Motor Co. to an executive with no experience selling cars. Alan Mulally, who is credited with turning around Boeing Co.'s struggling commercial airliner business, will take over as chief executive of Ford, effective immediately.
April 15, 2012 |
Some people underestimate Alan Mulally when they first meet him. Ford Motor Co.'s 66-year-old chief executive, who grew up in Kansas and once aspired to be an astronaut, looks and sometimes acts like an overgrown Boy Scout. He laces his speech with words such as "neat," "cool" and "absolutely. " But the farm-boy exterior conceals one of business' toughest, most ruthless managers. When a desperate Bill Ford recruited Mulally from Boeing in 2006, Ford was heading for a $12.7-billion loss and on the verge of losing its No. 2 sales spot in the U.S. to Toyota because of poor management and an uninspiring vehicle lineup.
September 20, 2008 |
Ford Motor Co. Chairman William Clay Ford Jr. sold 1 million shares for an average of $5.05 each, according to a U.S. regulatory filing. Bill Ford, 51, sold the shares to retire debt incurred in exercising stock options, a company spokesman said. The chairman, who was chief executive from October 2001 to September 2006, declined a salary during that period and received stock options instead. Bill Ford now directly holds 4,956,971 common shares, according to the filing. Accounting for the 398,920 shares held indirectly, the sale represents 16% of his common shares.
February 9, 2012 |
Ford Motor Co. announced on Thursday a series of senior management changes but gave no hint to who might succeed Alan Mulally as the automaker's next chief executive. Lewis Booth, executive vice president and chief financial officer, and Derrick Kuzak, group vice president, Global Product Development, have elected to retire effective April 1. Each has served the automaker for more than 30 years and at times have been mentioned as possible successors to Mulally. Booth, 63, will be succeeded by Bob Shanks, who is currently vice president and controller. Kuzak, 60, will be succeeded by Raj Nair, who is currently vice president of engineering, global product development.
CALIFORNIA | LOCAL
November 19, 1998
Assistant director Bill Ford makes the Orange County Health Care Agency sound like a bunch of moronic bureaucrats in the Nov. 9 article "Inspections but No Grades for O.C. Eateries." Ford maintains that grades should not be posted in windows because the grade isn't necessarily an accurate reflection of conditions at any given time. It's better to see the results of the inspection, and surely would motivate restaurateurs to keep their places cleaner and healthier. N.H. PETERSON Laguna Beach
May 22, 2012 |
Moody's Investors Service raised the credit rating for Ford Motor Co. to an investment grade Tuesday, giving its seal of approval to a corporate turnaround of the business that started with heavy borrowing at the end of 2006. The move returns control of the automaker's famous “Blue Oval” logo back to Ford. The iconic logo, with the Ford name written in distinctive script, was first seen on a Model A in 1928 and was pledged as collateral to obtain the loans. Moody's raised its assessment of the creditworthiness of Ford's automotive operations to Baa3, up from Ba2. Ford Motor Credit Co., the automaker's finance arm, now has a rating of Baa3, up from Ba1. The investment rating is an important measure of corporate health and will reduce the automaker's borrowing expenses.