Ford Motor Co. announced Thursday the establishment of the Alan Mulally Leadership in Engineering Scholarship. The scholarship fund, a $1 million program that provides financial assistance to outstanding students pursuing degrees in automotive engineering, honors former CEO Alan Mulally. The program will award 10 one-time $10,000 scholarships each year to sophomore or junior engineering students at premier partner universities around the world. The program will begin in 2015 and run for 10 years. Ford and the Ford Motor Co. Fund will each provide funding of $500,000. Mulally joined Ford in 2006 and served as President, CEO, and a board member until retiring in June 2014. Ford Fund will manage the program as part of the Ford Blue Oval Scholars, which will connect scholarship winners with the company’s corporate STEM (science, engineering, technology, and math) strategic initiative. Ford will identify scholarship recipients by working with its partner universities. The Ford Fund contributed $8.5 million—more than 30% of its annual giving—to education programs in 2013.