Ford President and CEO Alan Mulally to Open 2010 New York International Auto Show
NEW YORK - March 27, 2010: Since delivering his first ever auto show keynote at the 2007 New York International Auto Show's (NYIAS) Opening Press Breakfast to a packed crowd of uncertain media and industry executives, NYIAS is pleased to announce that Ford Motor Company's turnaround chief, Alan Mulally, is returning this spring to keynote the event once again.
Mulally's address comes fresh off the recent announcement that Ford reported a full year 2009 pre-tax operating profit of $454 million, a $7.3 billion improvement over a year. Under Mulally's leadership, the company says it also expects to be profitable for full year 2010 with positive Automotive operating-related cash flow.
"While we still face significant business environment challenges ahead, 2009 was a pivotal year for Ford and the strongest proof yet that our One Ford plan is working and that we are forging a path toward profitable growth by working together as one team, leveraging our global scale," said Mulally. "In every part of the world, we are providing customers with great products, building a stronger business and contributing to a better world. Our progress has helped us gain market share in most of our major markets," he concluded.
Uncommon in today's economic climate, Ford posted full year net income of $2.7 billion, or 86 cents per share, driven in part by favorable net pricing, structural cost reductions, net gains on debt reduction actions and strong Ford Credit results. This marks the company's first full year of positive net income since 2005 and a $17.5 billion improvement over 2008.
The Show's opening press event, co-hosted by the Alliance of Automobile Manufacturers, kicks off the 2010 NYIAS, which will feature dozens of world and North American new vehicle introductions.
"We are thrilled to have Mr. Mulally back to open the 2010 New York Auto Show," said NYIAS chairman John LaSorsa. "In a very short period, he has proven himself as one of the industry's brightest stars returning an American icon back to profitability in 2009 despite severe economic headwinds."
"The Auto Alliance is pleased to have the opportunity to sponsor the opening breakfast," said Dave McCurdy President & CEO, Alliance of Automobile Manufacturers. "We're excited about teaming up with North America's largest-attended auto show and look forward to Mr. Mulally's unique perspective on industry and the challenges facing automakers."
In additional to his role as president and chief executive officer, Mr. Mulally is also a member of Ford Motor Company's Board of Directors. Prior to joining Ford in September 2006, Mulally served as executive vice president of The Boeing Company, and president and chief executive officer of Boeing Commercial Airplanes. In that role, he was responsible for all of the company's commercial airplane programs and related services. Mulally also was a member of the Boeing Executive Council and served as Boeing's senior executive in the Pacific Northwest.
Mulally was named Boeing's president of Commercial Airplanes in September 1998. The responsibility of chief executive officer for the business unit was added in March 2001.
Previously, Mulally served as president of Boeing Information, Space & Defense Systems and senior vice president of The Boeing Company. Appointed to that role in February 1997, he was responsible for Boeing's defense, space and government business. Beginning in 1994, Mulally was senior vice president of Airplane Development for Boeing Commercial Airplanes Group, responsible for all airplane development activities, flight test operations, certification and government technical liaison. Earlier, Mulally served as Boeing's vice president of Engineering, and as vice president and general manager of the 777 program.
Throughout his career, Mulally has been recognized for his contributions and industry leadership, including being named one of "The World's Most Influential People" by TIME magazine in their 2009 "TIME 100" issue, "Person of the Year" for 2006 by Aviation Week magazine and one of "The Best Leaders of 2005" by BusinessWeek magazine.
About the 2010 New York International Auto Show
Ushering in the latest motor trends, the 2010 New York International Auto Show will unveil an expansive collection of cutting-edge design and extraordinary innovation. More than four floors of displays from the world's automakers will feature the newest vehicles and futuristic concept cars. More than 1,000 cars and trucks will be on display. NYIAS is North America's first and largest-attended auto show. The first exhibition was held in 1900 at Madison Square Garden. Today, the Show represents the nation's largest new vehicle market, accounting for over 840,000 new vehicle registrations in 2008. NYIAS is owned and produced by the Greater New York Automobile Dealers Association.
Important Show Dates Press Preview March 31 and April 1 Public Sneak Preview April 2 Public Show Dates April 2 - 11Photo: http://www.newscom.com/cgi-bin/prnh/20100201/NY47552
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