Bill Ford, as CEO of Ford Motor Co., failed to get consumers to part with their cash, and so earnings dropped and profits disappeared. Ford has now stepped down, and his replacement arrives from a company whose preferred source of revenue is the unwitting taxpayer.
Alan Mulally comes to Ford from Boeing, where he was CEO of the commercial aircraft division. The 61-year-old executiveenters an ailing company that drastically needs a turnaround. The choice seems a bit odd on some scores. Mulally made and sold aircraft in an industry with exactly two participants — Boeing and Airbus — and in which he was selling to airlines, not consumers. A different skill set would seem to be in order for running a carmaker.
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