Ford Motor Chief Executive Officer Alan Mulally said that he plans on staying until at least next year despite rumors of an early exit.
"I plan to continue to serve as Ford's president and CEO until at least the end of 2014," to remain "absolutely laser focused" on earnings growth, Mulally wrote in an e-mail to Bloomberg News today. "I love serving Ford and will continue serving Ford," Mulally said in an interview from Berlin with Anna Edwards on Bloomberg Television's "Countdown."
It was reported earlier this week that Ford's board was open to letting Mulally go early, but the 68-year-old said he's staying through at least 2014.
A succession plan was outlined last year, but Ford's board of directors supposedly was open to letting Mulally step down sooner to explore other roles, according to Reuters.
Mulally was hired in 2006 and helped the automaker survive despite being pushed towards the brink of collapse. The company lost $12.7 billion the year before Mulally arrived.
Mulally is also responsible for a more collaborative and open atmosphere, which has helped solved problems quicker, according to Reuters.
"The question is, when you have such a powerful luminary like Alan walk away, does everybody behave?" said Guggenheim Securities analyst Matthew Stover, according to Reuters.
Under Mulally, Ford borrowed $23 billion which allowed the automaker to avoid bankruptcy.
Chief Operating Officer Mark Fields, 24, is expected to be named the next CEO, according to Reuters.
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