DEARBORN, Mich. (July 11, 2014) –(BUSINESS WIRE)– Ford Motor Co. today announced the Alan Mulally Leadership in Engineering Scholarship, a $1 million program that honors the company’s former CEO by providing financial assistance to outstanding students pursuing degrees in the field of automotive engineering.
“Alan’s engineering background and data-driven decision making paved the way for the extraordinary leadership he provided at Ford,” said Executive Chairman Bill Ford. “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.”
Mulally joined Ford in September 2006 and served as president, CEO and a board member until his retirement on June 30. He guided the company in bringing everyone together to work on a compelling vision, through a comprehensive strategy and relentless implementation of the One Ford plan to drive profitable growth for all Ford stakeholders.
The Alan Mulally Leadership in Engineering Scholarship program will award 10 one-time $10,000 scholarships each year to outstanding sophomore or junior engineering students at premier partner universities around the world. The program will run for 10 years starting in spring 2015. Funding for the program will consist of $500,000 from Ford Motor Co. and $500,000 from Ford Motor Company Fund, the company’s philanthropic arm.
Ford Fund will manage the program as part of its global Ford Blue Oval Scholars initiative. Scholarship winners will be connected with the company’s corporate science, technology, engineering and math (STEM) strategic initiative, which is building a new generation of leaders in these key disciplines. The company will work directly with its partner universities to identify scholarship recipients.
Ford believes education is the cornerstone for a brighter future. This has been a primary focus of the Fund since it was established in 1949. Last year, it contributed $8.5 million – more than 30 percent of its annual giving – to education programs.