Outgoing Ford CEO Alan Mullaly appeared at his final annual investors meeting in Wilmington, Del. to a standing ovation from shareholders, proclaiming he had "no regrets" about his eight-year service at the helm.
Bloomberg reports Mullaly, who will pass the torch to upcoming CEO Mark Fields July 1, said he would "always be very pleased and very proud" of all he accomplished at Ford, confident that Fields and the rest of the leadership team under the One Ford management system — built with help from Fields — would be able to take the Blue Oval to the next level.
During his tenure, Mullaly saw Ford earn $42.3 billion over the past five years after losing $30.1 billion in the two years leading to the 2008 automotive industry crash and the Great Recession. In addition, U.S. sales in 2013 rose 11 percent on the strength of products such as the F-Series, Escape and Fusion, while outselling Toyota in China.
As for Fields, executive chairman Bill Ford Jr. stated that nothing would change beyond who would be sitting in the CEO's office:
Typically what's happened is the new CEO always feels like they have to chart a new direction, I've seen that many, many times and that's confusing to an organization. Because Mark has been an architect of the direction that we're going, there is going to be a continuation and a continuation of the culture.
from The Truth About Cars http://ift.tt/Jh8LjA
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