No Retirement Timetable for Ford’s Mulally

Speaking at Ford‘s (NYSE:F) annual shareholder meeting on Thursday, CEO Alan Mulally said he had no plans to set a retirement date.

Mulally is currently 66 years-old. After joining Ford in 2006 from Boeing (NYSE:BA), he led the company’s recovery from several years of successive losses to profitability. In March, Ford ended a five-year suspension of dividends.

He has not named a potential successor, Bloomberg noted.

Chairman Bill Ford told reporters that he had a good working relationship with Mulally and hoped to see him at the company for some time. He jokingly suggested 2025 or 2030 as possible retirement dates for the current CEO.

The chairman also dismissed any concerns that other Ford executives might leave without a clear path to the CEO’s office.

Mulally noted that the company does have a succession plan and forecast that the automaker would continue to prosper after he leaves.

However, some analysts told Bloomberg that a lack of clarity over Mulally’s eventual retirement plans was negatively affecting Ford’s share price.

The company predicts it will exceed last year’s operating profit of $8.8 billion.

Ford shares were off slightly in Friday afternoon trading.


Article printed from InvestorPlace Media, https://investorplace.com/2012/05/no-retirement-timetable-for-fords-mulally/.

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