Ford's CEO Alan Mulally took hope a tidy $13.57 million compensation package for his work in 2008, While that's a handsome sum, it represents a 37 percent cut of the $21.67 million he took home in 2007 – and that's before the ex-Boeing exec takes an additional 30 percent haircut for 2009. By comparison, General Motors' CEO Rick Wagoner and Chrysler's Bob Nardelli are slated to have salaries of $1 each, although both automakers have already received $17.4 billion in federal loans.
The day after Ford and the UAW reached a tentative retiree health care deal (General Motors and Chrysler are still negotiating), the leaders of the Dearborn, Michigan, automaker have announced that they will be taking a 30 percent reduction in salaries over the next two years. A memo, signed by Ford Executive Chairman William Ford Jr. and Chief Executive Alan Mulally, addresses the pay cuts and adds that Ford's board of directors will also drop their compensation for the same period of time. In
Even though gasoline prices are down to almost $2 per gallon around here as election day approaches, Ford CEO Alan Mulally apparently doesn't think the current situation will last. Mulally told Automotive News that the Dearborn automaker is staying the course on its plan to introduce a half dozen new smaller vehicles in the U.S. market in the next couple of years. The respite in fuel prices may give Ford some breathing space on the launch of its new F-150 pickup truck. Last week the company anno
In what may be the obvious move in recent memory, Ford is apparently scrambling right now to figure out how to quickly re-tool truck assembly plants churning out trucks that no one wants in order to build cars that they can't get enough of. The Mexican plant that will build the Fiesta is the first, shifting from the F-150s it currently builds to Ford's new mini. But Ford has plenty of other mostly idle plants that CEO Alan Mullaly wants to see turning out some of the company's popular European m
Ford CEO Alan Mullaly came out publicly in favor of new fuel taxes in place of fuel economy standards as a way to reduce fuel consumption. At the Management Briefing Seminar in Traverse City MI this week he called CAFE a failure that has done nothing to reduce American dependence on foreign oil or greenhouse gas emissions. Instead he said that Congress should give consideration to Rep. John Dingell's (D-MI) recent gas tax proposal.
To no one's surprise, Steve Hamp, chief of staff for Ford Motor Company CEO Alan Mulally, is bailing on the blue oval at the end of this year. The well-connected brother-in-law to former CEO and continuing chairman Bill Ford was apparently instrumental in bringing the former Boeing big wig on board. Ford hasn't announced any plan to replace him.