Published on April 1st, 2014 | by Daniel Sherman Fernandez0
Ford Announces USD1 Million Automotive Design Scholarship
In honour of the late William Clay Ford, who passed away earlier this month at the age of 88 and his contribution with the company, the Ford Motor Company Fund will award USD1 million in automotive design scholarships over the next 20 years.
The grant will be paid at the rate of USD50,000 per year, which will be divided equally between five automotive design students. The scholarships will be awarded annually to outstanding college sophomores or juniors pursuing a degree in automotive design, the Blue Oval said, adding that more details will be released later this year.
“Design was Mr. Ford’s passion, and his creative vision transformed vehicle design at Ford. We are honoring William Clay Ford’s legacy by encouraging and supporting the next generation of innovative automotive designers through this scholarship,” explained Jim Vella, president of Ford Fund and Community Services.
William Clay Ford, former vice chairman of Ford Motor Company and the last surviving grandchild of Henry Ford, who passed away earlier this month at the age of 88. He began his career with Ford in 1949 and was chairman of the Design Committee between 1957 and 1989.
He was also elected chairman of the Executive Committee in 1978, vice chairman of the Board in 1980 and chairman of the Finance Committee in 1987. He retired in 2005, being named Director Emeritus.