Wednesday 23rd April 2014
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Ford Motor Co. will soon announce that Mark Fields (pictured) will be their next Chief Executive Officer (CEO). Alan Mulally is set to retire from the position and it is firmly believed that the current Chief Operating Officer (COO) Fields will take charge. Ford Motor Co. is the second largest automobile manufacturing company in the US and it was already heavily suggested that Fields, 53, would take over from Mulally, 68, when Fields was promoted to COO back in December 2012. This information was leaked by an insider who does not want to be named and it is reckoned that an announcement could be made as early as 1 May but the changeover will not happen until the end of the year when Mulally retires. Mulally was the one who single handedly saved the Ford Motor Co. from bankruptcy when he took on the job back in 2006, moving from his position at Boeing Co. He cut costs and brought in a new line-up of fuel efficient vehicles which changed the fortunes of the company. He is going to be a hard act to follow for Fields. Fields does have a great reputation and has also worked miracles at the company. He has been with Ford Motor Co. now for 25 years and has previously led the North American operations, taking them from severe losses to record profits. Susan Krusel is a Ford Spokesperson and this is what she had to say: “We take succession planning very seriously and we have succession plans in place for each of our key leadership positions. For competitive reasons, we don’t discuss our succession plans externally.”

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