Mulally graduated from the University of Kansas, also his mother's alma mater, in 1969 with Bachelor of Science and Master of Science degrees in aeronautical and astronautical engineering.
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Mulally took over "The Way Forward" restructuring plan at Ford to turn around its massive losses and declining market share. Mulally's cost cutting initiatives led to the company's first profitable quarter in two years. Dividends to shareholders were also suspended.
He lives within three miles of his office at Ford's global headquarters in Dearborn, Michigan, arrives at 5:15 AM every morning and works for twelve hours. He has a meeting with Ford's executives, called a "Business Plan Review" every Thursday at 8:00 AM in the "Thunderbird Room" at Ford Headquarters.
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