From Crain News Service and wire reports
DETROIT (May 1, 2014) — Ford Motor Co. today named Mark Fields to replace Alan Mulally as CEO on July 1.
“From the first day we discussed Ford's transformation eight years ago, Alan and I agreed that developing the next generation of leaders and ensuring an orderly CEO succession were among our highest priorities,” Executive Chairman Bill Ford said in a statement.
“Now, Mark is ready to lead our company into the future as CEO.”
Mr. Fields, 53, emerged as Mr. Mulally's likely successor when he was promoted to COO in December 2012. The 25-year veteran of Ford was tapped to become Ford's No. 2 executive after leading the auto maker's North American operations from deep losses to record profits.
The transition will bring an end to a storied chapter in Ford's history.