Bill Ford has hired Alan Mulally to replace him as CEO of the automobile giant Ford. Mulally had been working for 37 years at aircraft maker Boeing.
Bill Ford is not completely handing over the reins for a company that he has worked at for over 30 years. He will keep the title of Executive Chairman.
Bill Ford stated that he had arrived at the firm conclusion that restructuring a company necessitates a CEO that can face the challenges of an enormous manufacturer such as Ford.