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Ford CEO Alan Mulally, who turns 67 this year, announces he wants to break Lutz's record and remain at Ford until he turns 81. Executive Chairman Bill Ford says "Alan can stay as long as he likes," before Ford resigns to run Trout Unlimited. He is succeeded as the family's representative on the board of directors by Henry Ford III.

By Alex Taylor III, senior editor-at-large @FortuneMagazine - Last updated December 29 2011: 5:20 AM ET
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