Proving The Limitations Of Genetics
Ford Motor, in a surprise move, reached outside the auto industry to name senior Boeing executive Alan Mulally as its new chief executive officer. Current CEO Bill Ford [right] will remain chairman. Mulally, 61 years old, a Boeing executive vice president who heads its commercial airplanes division, will take the Ford president and CEO post immediately as the struggling auto maker prepares a vast restructuring of its unprofitable North American business.Ford shares have fallen from a high of $30 in 2001 to less than $10 today, and this summer Toyota passed the blue oval and became the #2 selling brand in America. The company doesn't have a decent car in its lineup and admits that its business plan -- living off profits of SUVs and pick-ups -- is no longer viable or sustainable.
Mulally has his work cut out for him. Can his Boeing experience make Ford fly again? We'll see.
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