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Mulally, 66, has been widely credited with turning Ford around since he was hired as CEO in 2006. He made the critical decision to mortgage most of the company's assets
-- including its Blue Oval logo -- for $23.5 billion to fund a turnaround. That decision helped the company avoid taking government aid and filing for bankruptcy in 2009, two steps that rivals General Motors Co. and Chrysler Group were forced to take. Mulally also has streamlined global operations and introduced successful new models like the Ford Explorer SUV and Ford Fiesta subcompact. In an interview with The Associated Press last fall, Mulally defended his compensation, saying it is entirely tied to the success of Ford. "The vast majority of my compensation is at risk, because the numbers that you see are only realizable if we profitably grow the corporation. And that's the way it should be," he said.
[Associated
Press;
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