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Ford Starts CEO Hunt As Mulally Close To Retirement–WSJ

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By Douglas A. McIntyre Published
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The Wall Street Journal reports that Ford (NYSE: F) will begin the hunt for a new CEO. Alan Mulally, the successful chief executive of the No.2 American car company is expected to step down for retirement. Mulally joined the company from Boeing (NYSE: BA) in 2006.

Mulally is credited for steerting Ford through a vicious downturn in the car industry which pushed GM (NYSE: GM) and Chrysler into Chapter 11. Mulally agreed to mortgage Ford’s assets in exchange for $23 billion in loans which helped the company through the recession.

Mulally also brought a discipline to Ford and replaced may of the company’s top management. He is also credited with overseeing the launch of a new generation of fuel efficient cars–most powered by the firm’s new econo-boost engines. Ford’s growth as the company came out of the recession outpaced most other car companies with operations in the US.

It is not clear whether any of Mulally’s top aides will be candidates for the job.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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