Ford’s long goodbye

13 September 2012 By Christopher Swann

The carmaker seems reluctant to let go of Alan Mulally after he saved it from going bust. Naming him co-chairman would make for quirky governance and suggests the board doesn’t yet have full confidence in his successor. But keeping Mulally’s magic touch trumps these downsides.

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Ford Motor’s board of directors is considering keeping Chief Executive Alan Mulally involved with the No. 2 U.S. automaker after his retirement by appointing him non-executive chairman, according to a Reuters source on Sept. 13.

The board, which met in Dearborn, Michigan, is laying the groundwork to promote Mark Fields, the head of Ford’s North and South American operations, to chief operating officer, said the source, who declined to be named discussing internal company matters.

Under the scenario, Bill Ford, the great-grandson of company founder Henry Ford, would remain executive chairman, the source said.

Mulally was appointed chief executive at Ford in September 2006. Ford was the only U.S. car manufacturer to avoid a government-sponsored bankruptcy following the 2008 financial crisis.

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