DETROIT - Bill Ford is stepping down as chief executive at Ford Motor Co. and the troubled automaker said Tuesday he will be replaced by Alan Mulally, a top executive from the airplane maker Boeing Co.
Bill Ford will remain as chairman of Ford Motor, however.
Mulally, previously executive vice president of Boeing and president and CEO of Boeing Commercial Airplanes, has also been named president at Ford.
Mulally, 61, was widely praised for being a key architect of the resurgence of Boeing's commercial airplanes unit over the past couple of years. He was a top candidate for the Boeing CEO job last year but the company went outside instead to select aerospace veteran Jim McNerney, then the 3M Co. chief executive.
In announcing Mulally's appointment to Ford employees, Bill Ford said in an e-mail that Ford's turnaround effort "required the additional skills of an executive who has led a major manufacturing enterprise through such challenges before."
Mulally has spent 37 years at Boeing.