Ford CEO Alan Mulally and Chairman Bill Ford, Jr. The Alan Mulally Leadership in Engineering Scholarship will honor automotive engineering students from universities around the world starting in the spring of 2015. (John T. Greilick / The Detroit News)
Ford Motor Co. said Thursday it’s creating a $1 million scholarship fund to honor recently-retired CEO Alan Mulally.
The Alan Mulally Leadership in Engineering Scholarship will honor automotive engineering students from universities around the world starting in the spring of 2015. Each year for 10 years, the scholarship will offer 10 students $10,000 one-time scholarships.
“Alan’s engineering background and data-driven decision making paved the way for the extraordinary leadership he provided at Ford,” Ford Executive Chairman Bill Ford said in a statement. “We are honoring his legacy by providing scholarships to students who demonstrate the strong engineering ability that is required to develop into the next generation of leaders for our industry.”
The new scholarship is funded with $500,000 from Ford Motor Co. and $500,000 from Ford Motor Co. Fund, the automaker’s philanthropic arm.
Last year, Ford Fund contributed $8.5 million to education programs.