Ford’s Mulally wins CEO of the Year award
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Ford’s Mulally wins CEO of the Year award
Dec. 7, 2010, 11:00 p.m. EST
Ford’s Mulally wins CEO of the Year award
Readers overwhelmingly support auto-industry chief in 2010
By Shawn Langlois, MarketWatch
SAN FRANCISCO (MarketWatch) — IPad, schmi-pad. Citigroup? Pfft. Amazon.com and Netflix? Nah. This one wasn’t even close.
Ford Motor Co. (NYSE:F) CEO Alan Mulally easily beat out Steve Jobs, Vikram Pandit, Jeff Bezos and Reed Hastings to win the 2010 MarketWatch CEO of the Year award, in a resounding acknowledgment by readers of his resilience during and after the automobile industry’s historic crisis.
While MarketWatch readers gave Mulally an early and insurmountable lead in the CEO of the Year race, MarketWatch’s editorial staff named Apple’s (NASDAQ:AAPL) Steve Jobs its CEO of the Decade.
See the full special report on the 2010 MarketWatch CEO awards.
So far in 2010, unit sales are up 21% at Ford, double that of the broader industry, setting Ford up to gain market share in back-to-back years for the first time since 1993. In the third quarter, Ford reported a 69% jump in earnings to achieve a fifth straight quarterly profit.
Ford’s stock has almost doubled this year to $16.80 after more than quadrupling in 2009. Meanwhile, Toyota Motor Corp., once seemingly invincible, has seen its shares drop 6% this year.
Mulally’s stint as Ford’s top executive began in 2006, when he succeeded William Clay Ford Jr. ahead of an industry collapse that nobody could have seen coming — nobody except perhaps Mulally himself.
In a move as risky as it was prescient, Mulally, fresh from a prominent role at Boeing Co., decided to borrow almost $24 billion by mortgaging Ford’s assets long before rivals General Motors Co. and Chrysler had to lean on taxpayers for survival.
Ford to this day continues to cash in on the goodwill it earned by staving off the bankruptcies that swallowed the domestic competition in 2009. And Mulally has, in turn, become the face of what’s right in American manufacturing. Slideshow: Alan Mulally and Ford – 2010 in pictures
Even in 2010, when leaner versions of GM (NYSE:GM) and Chrysler clawed their way back from the abyss and were poised for battle, Ford and Mulally were ready with a slew of strong new products and the tailwind of consumers’ newfound devotion to the company that put, and kept, America on wheels.
http://www.marketwatch.com/story/for...win-2010-12-08
Ford’s Mulally wins CEO of the Year award
Readers overwhelmingly support auto-industry chief in 2010
By Shawn Langlois, MarketWatch
SAN FRANCISCO (MarketWatch) — IPad, schmi-pad. Citigroup? Pfft. Amazon.com and Netflix? Nah. This one wasn’t even close.
Ford Motor Co. (NYSE:F) CEO Alan Mulally easily beat out Steve Jobs, Vikram Pandit, Jeff Bezos and Reed Hastings to win the 2010 MarketWatch CEO of the Year award, in a resounding acknowledgment by readers of his resilience during and after the automobile industry’s historic crisis.
While MarketWatch readers gave Mulally an early and insurmountable lead in the CEO of the Year race, MarketWatch’s editorial staff named Apple’s (NASDAQ:AAPL) Steve Jobs its CEO of the Decade.
See the full special report on the 2010 MarketWatch CEO awards.
So far in 2010, unit sales are up 21% at Ford, double that of the broader industry, setting Ford up to gain market share in back-to-back years for the first time since 1993. In the third quarter, Ford reported a 69% jump in earnings to achieve a fifth straight quarterly profit.
Ford’s stock has almost doubled this year to $16.80 after more than quadrupling in 2009. Meanwhile, Toyota Motor Corp., once seemingly invincible, has seen its shares drop 6% this year.
Mulally’s stint as Ford’s top executive began in 2006, when he succeeded William Clay Ford Jr. ahead of an industry collapse that nobody could have seen coming — nobody except perhaps Mulally himself.
In a move as risky as it was prescient, Mulally, fresh from a prominent role at Boeing Co., decided to borrow almost $24 billion by mortgaging Ford’s assets long before rivals General Motors Co. and Chrysler had to lean on taxpayers for survival.
Ford to this day continues to cash in on the goodwill it earned by staving off the bankruptcies that swallowed the domestic competition in 2009. And Mulally has, in turn, become the face of what’s right in American manufacturing. Slideshow: Alan Mulally and Ford – 2010 in pictures
Even in 2010, when leaner versions of GM (NYSE:GM) and Chrysler clawed their way back from the abyss and were poised for battle, Ford and Mulally were ready with a slew of strong new products and the tailwind of consumers’ newfound devotion to the company that put, and kept, America on wheels.
http://www.marketwatch.com/story/for...win-2010-12-08
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