As the Detroit News claims, Ford suspended dividend payments exactly the same month Mulally was hired, causing a deep hole of $130 million in Ford family's annual revenue. More importantly, since then the family's Ford stock lost a big part of its value as now it is worth less than $190 million. This is quite a heavy drop considering they were valued at a few billions.
"They very much believe in where he's driving the company," Bill Ford Jr. said in an interview with The Detroit News on Sunday. "We're a hundred percent behind him."
Since his arrival in Dearborn, he has forced Ford divisions to work together like never before in a huge effort to save the brand's name. "I do think Alan is doing a great job," Elena Ford, Bill Ford's cousin and executive vice president of global brand and marketing for Ford Credit, told the Detroit News. "He's done a lot of communicating with the family."
More importantly, Ford family still has reserves in accepting any federal money because they think this will affect their ownership of the company. If there's one person in this world who is believed to save the reputed Detroit automaker, then Alan Mulally is the one, as Bill Ford claims. "When I hired Alan, I thought he was going to be terrific - and he has been," Bill Ford said. "It's been a great fit. He's a great leader."
As expected, Mullaly appreciates the high consideration he has received from the Ford family, but is all aware of the huge responsibility that lies on his shoulders. "It's absolutely critical," he said. "Theirs is a long-term commitment, a consistency of purpose and solid support to create a growing, viable Ford."
Although we're pretty sure there are not very many persons in this world who would like to be in his shoes right now, if he succeeds, the man will become Ford's next hero.
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