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CEO Alan Mulally to Stay on at Ford through 2014

AlanMulally Flickr_Ford-APA
Alan Mulally, President and Chief Executive Officer of Ford Motor Company delivers a speech at the Job 1 ceremony in September 2011. "We are honored to begin to serve our customers around the world with the all-new Ford Ranger," Mulally said. (Flickr Photo via Ford APA)

DETROIT (AP) — Ford CEO Alan Mulally will lead the company at least through 2014, but it's not clear who will succeed him. The 67-year-old Mulally grew up in Lawrence, where his mother still lives. Mulally is highly respected at Ford for saving the company from financial collapse. Shortly after he was hired away from Boeing in 2006, he mortgaged all of Ford's assets for a huge loan. The $23.5 billion loan paid for a restructuring and helped keep Ford out of bankruptcy protection. It's unclear, exactly, when Mulally will step down as CEO. "Whatever happens, Alan is here two more years, but we could go longer," Executive Chairman Bill Ford Jr. said on a conference call.

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