Ford’s Alan Mulally Linked to Sears Turnaround Talks
Outgoing Ford CEO Alan Mulally met with Sears Holdings’ Eddie Lampert in early 2014, fuelling speculation about a possible move to the troubled US retailer.
Ford’s outgoing chief executive Alan Mulally held talks with Sears Holdings Corp’s Eddie Lampert in early 2014, prompting speculation that Mulally could be in line for a leadership role at the struggling retailer after his retirement from the carmaker.
According to people familiar with the matter, Lampert, who controls Sears Holdings, visited Ford’s headquarters in either February or March 2014. The meeting reportedly centred on turnaround strategies, as Lampert sought advice from Mulally, who is widely credited with stabilising Ford during the financial crisis.
Accounts differ on whether Lampert was actively courting Mulally for the top job at Sears. One source suggested Lampert floated the idea of Mulally taking over as CEO, with Mulally set to become available after stepping down from Ford on 1 July 2014. Another source disputed this, saying Lampert was seeking advice rather than offering a formal position.
No confirmed role for Mulally at Sears
Mulally addressed the speculation in a television interview, saying he was happy to share Ford’s story and would consider his next steps after leaving the automaker. As of June 2014, there was no confirmation of a formal job offer from Sears, nor evidence of an active search for a new CEO at the retailer.
Ford’s board was expected to enforce a non-compete clause that would prevent Mulally from joining a direct automotive rival. A move to the retail sector, however, would not trigger such restrictions. Sears, which has struggled with declining sales and store closures for several years, has looked for ways to reverse its fortunes under Lampert’s leadership.
Mulally’s legacy at Ford and industry impact
Mulally joined Ford in 2006 after a long career at Boeing, steering the carmaker through the 2008 financial crisis without resorting to a government bailout. His management style and focus on restructuring have been credited with restoring Ford’s profitability and competitiveness. These achievements have attracted interest from outside the car sector, particularly from companies like Sears seeking a turnaround blueprint.
At the time, Ford was preparing for Mark Fields to take over as CEO, with Mulally’s future plans still undecided. Any move by Mulally into retail or another industry would have marked a notable shift for one of the US’s most prominent corporate leaders.
No further public developments on Mulally’s potential role at Sears were reported after these initial meetings and discussions in early 2014.
