Investors Cheer Mullaly’s Decision To Stay At Ford Motor Company (NYSE:F)
Ford Motor Company (NYSE:F) stock rallied a full one point percentage during trading on January 8. This upward spurt in the stock put an end to its losing streak at the browsers in December, when it had seen its market value plummet by close to 6.95 percent. Readers should note that for the better part of the last two quarters, ever since rumours started to float around in the business magazines that Ford Motor Company (NYSE:F) turn around hero, its CEO and President Allan Mulally had put his hat into the CEO ring at tech firm Microsoft, the stock of the storied car maker has been under pressure.
If Ford Motor Company (NYSE:F) insiders are to be believed, the board of directors led by its chairman William Clay Ford was pretty miffed when the trade magazines reports analyzing the prospects of Mr Mulally move to the tech firm overshadowed the news of major new car model releases by the firm in 2013.
Yesterday, in an interview to Associate Press, Alan Mulally categorically declared that he has made up his mind to stay put at the helm of affairs of Ford Motor Company (NYSE:F) right through this year at least before considering his plans for the next year. This assertion by the man in question himself has once and for all helped in squashing all the rumours about him being on the short list of the CEO candidates at Microsoft.
Mr Mulally has been quoted as saying, “I would like to end the Microsoft speculation because I have no other plans to do anything other than serve Ford. I will stay with Ford through at least this year”. It was this clarification that drove the investors to flock back to the stock of the car marker during yesterday’s trading.