Mulally (David Coates, file / The Detroit News)
Less than two weeks into his retirement as Ford Motor Co. CEO, Alan Mulally has joined Google Inc.’s board of directors, the company said late Tuesday.
The 68-year-old will serve on the tech giant’s audit committee. The appointment was effective July 9, Google said in a statement.
“Alan brings a wealth of proven business and technology leadership experience,” Larry Page, CEO of Google, said in a statement. “I am so pleased that Alan is now joining Google’s board!”
Mulally said, “I look forward to working together with the Google board and management team to continue to deliver their compelling vision.”
In a filing to the Securities and Exchange Commission last year, Google said directors got $75,000 in cash and stock awards worth $351,000.
Mulally’s 2013 compensation at Ford — which included stock and option awards, plus personal expenses — included $2 million in salary, a $5.88 million cash bonus and more than $11 million in stock awards, according to the automaker’s March proxy filing.
Mulally was CEO at Ford from September 2006 through July 1 of this year. He was previously executive vice president of Boeing Co.
He is credited with saving the auto company by transforming Ford’s historically divisive corporate culture into a model of teamwork, mortgaging everything to pay for a sweeping transformation of its vehicle lineup and avoiding a government bailout even as bankruptcy seemed inevitable.
Under Mulally’s stewardship, Ford earned $42.3 billion in the last five years after losing $30.1 billion from 2006 to 2008. Surging sales of Escape sport-utility vehicles, F-Series pickups and Fusion sedans drove up Ford’s U.S. sales 11 percent last year. In China, the world’s largest car market, Ford now outsells Toyota Motor Corp.
Mulally had been mum on his post-Ford plans, saying only that he would continue to advise his successor, Mark Fields.
In recent months, there was speculation Mulally would take a position with Sears Holding or the U.S. Department of Veterans Affairs.
Before that, he was said to be in the running for the top job at Microsoft Corp.