Bill Ford Resigns as CEO, Boeing President/CEO Alan Mullaly Comes in

Ford announced today that Bill Ford will resign as CEO of the company his family founded over a century ago and that Alan Mullay CEO and President of Boeing (with a 37 record at the airplane manufacturer) will succeed him.

Ford has been recently mentioning turnaround strategies for Ford in recent interviews. Late last week Ford also sent out a memo to the company’s employees stating three strategies that he felt were crucial to return the company back to profitability, in which he stated Ford needed better executive leadership from outside and within.

Mulally has experience in facing challenges at Boeing similar to the ones facing Ford in the present. Mulally has dealt with issues including customer satisfaction, manufacturing, supplier relations and fuel prices.

The press release also stated that Ford will stay executive chairman and will remain extremely active in the direction of the company.