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Bill Ford, great-grandson of the storied American auto company's founder, is stepping down from his position as CEO of Ford Motor Company (NYSE:F) according to AP reports. He'll be replaced by Alan Mulally of Boeing.
It was only this January that Time magazine asked in a cover story, "Can This Man Save the American Auto Industry?" The question mark loomed large over the whole article, and it seems Ford -- Bill, as well as the company he led -- have answered, "no."
It's interesting that even last week, when Coke's Donald Knauss announced he was leaving to head another company, we speculated: could it be Ford? We were wrong in the name of the replacement, but not the sentiment: even though it seemed a little far-fetched, at the time.
Time for a new question. "Can this man save the American auto industry?" What do you think?
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