(Autoinsidernews) - Ford Motor Company announced today that Bill Ford Jr. has stepped down as president and CEO of the automaker, and it has elected Alan Mulally as president and chief executive officer. Mulally has also been elected to Fords Board of Directors. Bill Ford will continue his duties as executive chairman of the company, concentrating his efforts on strategic repositioning of Ford, reports Trend.
The news directly from Fords mouth after the jump.