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Alan Roger Mulally (born August 4, 1945) is an Americanmarker engineer and businessman. He is currently the President and Chief Executive Officer of Ford Motor Company.

Mulally was previously executive vice president of Boeing and the CEO of Boeing Commercial Airplanes (BCA). Mulally began his career with Boeing as an engineer in 1969. Mulally was largely credited with BCA's resurgence against Airbus in the mid-2000s.

Education and personal life

Mulally was born in Oaklandmarker, Californiamarker. He graduated from the University of Kansasmarker in 1969 with Bachelor of Science and Master of Science degrees in aeronautical and astronautical engineering. He is an alumnus of the Kappa Sigma Fraternity and is its 2007 Man of the Year. He received a Master's degree in Management as a Sloan Fellow from the Massachusetts Institute of Technology Sloan School of Managementmarker in 1982. He has three sons and two daughters and is married to the former Jane "Nicki" Connell.

Boeing

Mulally was hired by Boeing immediately out of college in 1969 as an engineer. He held a number of engineering and program management positions, making contributions to the Boeing 727, 737, 747, 757, 767 and 777 projects.

He led the cockpit design team on the 757/767 project. Its revolutionary design featured the first all-digital flight deck in a commercial aircraft, the first two man crew for long range aircraft, and a common type rating for pilots on two different aircraft. He worked on the 777 program first as director of engineering and, from September 1992, as vice-president and general manager. Later he was the Vice President of Engineering for the commercial airplane group. He is known and recognized for elevating Phil Condit's "Working Together"-philosophy through and beyond the 777-program. In 1994, Mulally was promoted to senior vice president of Airplane Development and was in charge of all airplane development activities, flight test operations, certification, and government technical liaison. In 1997, Mulally became the president of the Information, Space & Defense Systems and senior vice president. He held this position until 1998 when he was made president of Boeing Commercial Airplanes, Chief Executive Officer duties were added in 2001.

Following the forced resignations of Phil Condit in 2003 and Harry Stonecipher in 2005, Mulally was considered one of the leading internal candidates for the CEO position. When Mulally was passed over in both instances, questions were raised about whether he would remain with the company.

For Mulally's performance at Boeing, Aviation Week & Space Technology named him as person of the year for 2006.

Ford Motor Company

Mulally was named the President and CEO of Ford Motor Company on September 5, 2006, succeeding William Clay Ford, Jr., who remained as Executive Chairman of the company's Board of Directors. Mulally drew flak over calling his Lexus LS430 the 'finest car in the world,' just as Ford was about to announce his selection as CEO. William Clay Ford had been searching for his successor as Ford CEO for some time, with DaimlerChrysler's Dieter Zetsche and Renault/Nissan Motors Carlos Ghosn both turning down the offer.

One of Mulally's first decisions at Ford was to bring back the Taurus nameplate. He said that he could not understand why the company previously scrapped the Taurus, which had been one of the company's best sellers until losing ground in the late 1990s.

Mulally took over "The Way Forward" restructuring plan at Ford to turn-around its massive losses and declining market share. Mulally's cost cutting initiatives led to the company's first profitable quarter in two years.Dividends to shareholders were also suspended.

In 2006, Mulally led the effort for Ford to borrow $23.6 billion USD by mortgaging all of Ford's assets. Mulally said that he intended to use the money to finance a major overhaul and provide “a cushion to protect for a recession or other unexpected event." At the time the loan was interpreted as a sign of desperation, but is now widely credited with stabilizing Ford's financial position, compared to crosstown rivals General Motors and Chrysler, both of whom had gone bankrupt during the Automotive industry crisis of 2008–2009. Ford is the only one of the Detroit Three that has not asked for a government loan. While GM and Chrysler expect to be dramatically downsized as a result of bankruptcy, Ford is poised to emerge as the largest US automaker and shows signs of recovery. Ford chairman William Clay Ford who hired Mulally has said that "Alan was the right choice [to be CEO], and it gets more right every day".

In 2007, he presided over the sale of Jaguar Cars and Land Rover to Tata Motors, an Indian car and truck manufacturer. Mulally said he had "no regrets" over the sale, preferring to concentrate on the Ford brand, as then-CEO Jacques Nasser was criticized in 2001 for paying too much attention to new overseas acquisitions while letting the main Ford operations in the US decline. Ford received $2.3 billion USD on the sale, considerably below what they paid for it under Nasser. However, analysts said that Ford would have gotten much less or may not have found a buyer if they tried to sell it later in 2008, as Jaguar Land Rover sales subsequently plummeted due to high oil prices in the summer, causing Tata to request a bailout from the British government. Mulally has also sold off Aston Martin, attempted to sell Volvo Cars, and reduced Ford's stake in Mazda.

In 2008 amid mounting losses during an economic downturn, Ford announced a proposal on December 2, 2008 to cut Mulally's salary to $1 per year if government loans were received and used by Ford. During hearings for government loans to Ford, he and other industry leaders were criticized for flying to Washington, D.C. in corporate jets. During a subsequent meeting, he traveled from Detroit to Washington by hybrid car, while selling all but one of Ford's corporate jets.

In 2008, Mulally earned a total compensation of $13,565,378, which included a base salary of $2,000,000, stock awards of $1,849,241, and option awards of $8,669,747. His total compensation decreased by 37.4% compared to 2007.

Due to his achievements at Ford, he was included in the 2009 Time 100 list. The entry, written by Steve Ballmer, says, "[Mulally] understands the fundamentals of business success as well as any business leader I know."

On February 2, 2009, WOOD-TV News reported that Mulally personally called Michael Snapper, a customer who recently chose to purchase a Ford Fusion Hybrid over the Toyota Prius that he originally intended to buy. He left a voicemail on Michael's mobile saying a personal thank you from the CEO.

Mulally negotiated 4 new agreements with United Auto Workers, which has brought down labor costs from $76/hour to $55/hour. [348857]

Management style

He lives within 3 miles of his office at Ford's global headquarters in Dearborn, Michiganmarker, arrives at 5:15 AM every morning, and works for 12 hours. [348858]

He has meetings with Ford's executives called, "Business Plan Review", every Thursday at 8 AM in the "Thunderbird Room" at Ford Headquarters. [348859]

References

  1. Mecham, M. and Velocci, A. L., " Alan R. Mulally is AW&ST's Person of the Year.", Aviation Week & Space Technology. December 31, 2006. Retrieved on 2008-12-04.
  2. What your CEO drives says a lot, USA Today, December 12, 2007. Retrieved on 2008-12-05.
  3. New Ford CEO admits to driving a Lexus LS430, Motor Authority. Retrieved on 2008-12-05.
  4. Ford execs compare Taurus to Homer Simpson, MSNBC, January 29, 2008. Retrieved on 2008-12-04.
  5. October 30, 2006. Retrieved on 2006-11-09.
  6. Ford Family's Cash Faucet Goes Dry Suspension of Dividend Cuts Off a Strong Annuity For Auto Maker's Founders, Wall Street Journal, September 16, 2006. Retrieved on 2008-12-04.
  7. [1]
  8. Mulally: Ford has no regrets on selling Jaguar, Land Rover, EGM Cartech, October 7, 2008. Retrieved on 2008-12-4.
  9. [2]
  10. Big Three want more money in bailout, Money, December 2, 2008. Retrieved on 2008-12-05.
  11. Ford's PR campaign: CEO Alan Mulally drives to hearings (no corporate jet), promises $1 salary, New York Daily News, December 2, 2008. Retrieved on 2008-12-04.
  12. [3]


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