Tagged: Ford Motor Company

Three days after Bloomberg was the first to break the news that  Ford's Board may promote Mark Fields to Chief Operating Officer, and that CEO Alan Mulally is to retire at the end of 2013, Reuters' Bernie Woodall and Deepa Seetharaman report this:

DETROIT (Reuters) - Ford Motor Co's (F.N) board of directors is considering keeping Chief Executive Alan Mulally involved with the No. 2 U.S. automaker after his retirement as nonexecutive chairman, a person familiar with the matter said on Thursday.

Henry Ford's great-grandson said it plainly to the Associated Press... Ford Motor Company was once plagued by internal divisions that dragged the company down.

"At the old Ford, you had heroes and villains," [Bill Ford Jr.] said. "Now, it's, `OK, where do we have issues and how do we solve them?'"

Alan Mulally was brought in by Bill Ford Jr. in 2006 as Ford's new CEO.

Mulally has been credited with righting the ship. Michigan Radio's Tracy Samilton wrote about how Mulally has changed things at Ford over the last six years.

She writes about how Mulally's retirement has been a point of speculation ever since he turned 65:

...one question invariably comes up during media scrums at Ford Motor Company events. "When are you going to retire?" some reporter or other asks. Now that he's 67, the question is being asked even more frequently

Yesterday, Bloomberg News broke a story about moves the company plans to make:

Ford Motor Co. (F) directors are preparing to promote Mark Fields to chief operating officer from president of the Americas, a move that anoints him as probable successor to Chief Executive Officer Alan Mulally, according to a person familiar with the plan.

Bloomberg writes Mulally is expected to retire at the end of 2013. Really? So far the company itself is mum.

But the retirement talk, has AP auto reporters Dee-Ann Durbin and Tom Krisher writing about life at Ford after Mulally.

They highlight six points about the company.

3 of which they say should worry investors, and three of which they say are encouraging signs.

Ever since Ford CEO Alan Mulally turned 65, one question invariably comes up during media scrums at Ford Motor Company events.  "When are you going to retire?" some reporter or other asks.

Now that he's 67, the question is being asked even more frequently -- even though the man is by all accounts healthy, extremely fit, and a fierce competitor on the tennis court and golf course - and even though he seems to relish his job.