Alan Mulally is the Chief Executive Officer of Ford Motor Company.c
Bailout
On December 2, 2008, Mulally was one of several Detroit automakers who spoke to the press about their planned appeal to Congress for assistance with a bailout.c
Mulally and two Ford executives left Detroit on Monday, December 2, 2008, in a Ford Escape hybrid for the 10-hour drive to Washington, DC. The gesture was a response to the public relations fiasco that he and the other Detroit automakers made in November when they each flew private jets to ask for money for their failing companies.c
Mulally and Ford's Financial Status
Ford's light vehicle sales fell 31 percent in November 2008, compared to over 47 percent for Chrysler and 41 percent for GM. Ford owes more than $26 billion, including $6.3 billion to the union trust fund, by the end of 2009.
Ford asked for $9 billion as a "standby line of credit" to stabilize its business.
Mulally promised if Ford takes any government money, he will personally work for $1 per year and he would cancel management bonuses and merit raises for salaried employees.
References
Fast Facts
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Fact:
President and CEO of Ford Motor Co. -
Fact:
Joined Ford in September 2006 -
Previously employed
Boeing, beginning in 1969 and rising to executive vice president -
Born
August 4, 1945, Oakland, California -
Education
BS and MS in aeronautical and astronautical engineering, University of Kansas; MA in Management from Massachusetts Institute of Technology
