Dearborn, Mich. — Today's announced Alan Mulally Leadership in Engineering Scholarship program is slated to offer $10,000 scholarships for 10 years starting in 2015.
The $1 million program honoring the Ford Motor Company's former CEO by providing financial assistance to outstanding students pursuing degrees in the field of automotive engineering will award 10 one-time $10,000 scholarships spanning a decade, starting the spring of '15, to outstanding sophomore or junior engineering students at premier partner universities around the world.
"Alan's engineering background and data-driven decision making paved the way for the extraordinary leadership he provided at Ford," said Ford 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 the scholarships each year to outstanding sophomore or junior engineering students at premier partner universities around the world. Funding for the program will consist of $500,000 from Ford Motor Company 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 strategic initiative, which is building a new generation of leaders in these key disciplines. Ford will work directly with its partner universities to identify scholarship recipients.
Believing education is the cornerstone for a brighter future has been a primary focus of Ford Fund since it was established in 1949. Last year, Ford Fund contributed $8.5 million—more than 30 percent of its annual giving—to education programs.