Another one bites the dust: Ford CEO Mulally won’t leave to run Microsoft

Microsoft CEO Search Mulally

Microsoft shares are getting hammered in Tuesday evening’s after-hours session on news that Ford CEO Alan Mulally will not leave the company to accept a new chief executive role at Microsoft. Rumors that Mulally was a top candidate for the CEO role that will soon be vacated by Steve Ballmer have been swirling since Ballmer first announced his imminent departure. According to a report from The Associated Press, however, Mulally has confirmed that he will stay with Ford at least through the end of 2014. Microsoft shares slid 2.5% on the news.

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