The Ford family made it a big deal when Bill Ford took over. His disastrous management should make shareholders not want to repeat the mistake.
Onésimo Alvarez-Moro
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There was a collective gasp in the business world a few weeks back when Alan R. Mulally was recruited from Boeing to become Ford’s new chief executive. The sense seemed to be that William Clay Ford Jr., who remains chairman, was handing over the family jewels to some unwashed nonbeliever.
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Such a reaction, of course, ignores the fact that a non-Ford ran the company for more than two decades before this latest Mr. Ford took the reins. But it also ignores the fact that — as Challenger, Gray & Christmas, the outplacement firm, points out — it is really no big deal for a company to go beyond its cloistered halls to pick a chief. In fact, by Challenger’s tally, it happened nearly half the time in the first eight months of this year.
“After all,” said the firm’s chief executive, John A. Challenger (whose name suggests that perhaps he’s not an outsider), “it was the old way of doing things” that gets companies into trouble in the first place. Or could the Japanese have something to do with Ford’s troubles?
Picking an Outsider as the New Leader: It’s No Big Deal - New York Times
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