Ford Motor Co.’s chief executive officer Alan Mulally is credited with having turned around the auto maker, managing to do so without seeking a bailout from the US government following the 2008 financial crisis. Often cited for redefining the Ford culture, Mulally managed to slash debt to $13 billion at the end of the last fiscal year from $37 billion in 2007-08, Mint reported.

On succession planning, Mulally told Mint in an interview, “It’s all about people, it does not get done by magic. It’s all about people working together, it’s all about leadership. So, one of my foremost responsibilities is succession planning as well as the culture of working together. I personally spend 25-30% of my time on leadership development and succession plan. There is one really good example (pointing towards David Schoch, Group Vice President). There is another really good example (pointing towards Joginder Singh, Ford India president)."

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