Ford CEO Alan Mulally confirmed this week that he won't be leaving the automaker for Microsoft, according to the Associated Press.
Mulally had been rumored to be leaving Ford for the CEO position at Microsoft, and after finally realizing the speculation was hurting the automaker, he finally addressed it in a statement on Jan. 7.
"I would like to end the Microsoft speculation because I have no other plans to do anything other than serve Ford," Mulally said in a press statement this week.
Mulally has been with the company since 2006. He has been credited for turning the company around and saving it from bankruptcy in 2008. Since starting he has increased profitability dramatically, which is why many thought he might take over the Microsoft job to help them do the same.
In an interview with AP, Mulally wouldn't confirm that he had talked with Microsoft about becoming their CEO, but did admit the speculation had become a distraction for Ford.
Ford shares instantly rose 1.5 percent to $15.61 in morning trading, whereas Microsoft's shares fell 1.3 percent to $35.94, according to Forbes.
"We see the other players in the space settling down for an important year," said Karl Brauer, senior analyst for Kelley Blue Book, according to USA Today. "If Mulally hadn't done it, they would have continued (with) misdirection and questions about who is running Ford."
Mulally plans on staying with Ford at least through the end of this year. Once he leaves, Mark Fields will become the new chief operating officer of the company, according to Reuters.
Fields is currently Ford's COO, and oversees day-to-day operations at the automaker.
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