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New Ford CEO Alan Mulally to accelerate restructuring.(SHAKE-UP AT FORD)
Kiplinger Letter, The, September, 2006
New Ford CEO Alan Mulally will accelerate the restructuring plan already set in motion by company Executive Chairman Bill Ford. Mulally, who comes from Boeing, brings expert turnaround credentials after successfully guiding the aircraft giant into a profitable era.
He'll want to close six to nine plants by 2008 instead of 2012. Other likely priorities: Slashing Ford's 87,000-strong unionized payroll by up to 40,000. Shortening car development cycles to roughly three years from the current five or six. Selling off luxury brands, such as Jaguar, Aston Martin and Land Rover, and selling most of Ford's financing unit.
Will Mulally succeed in saving the company? It's no slam dunk. Like Bill Ford, Mulally will struggle with the United Auto Workers and have...
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