Ford to name Fields as CEO soon, replacing Mulally: Source
Published on Apr 22, 2014 6:06 AM
DETROIT (REUTERS) - Ford Motor Co will soon name chief operating officer (COO) Mark Fields as successor to chief executive officer (CEO) Alan Mulally, a person familiar with the plans said on Monday.
Mr Mulally, the 68-year-old executive credited with reviving Ford's fortunes since taking its helm in 2006, will step down before the end of the year, said the person, who asked not to be identified discussing the company's plans. Mr Fields, 53, was named COO in December 2012 and has been seen as Mr Mulally's successor.
"It's really close," the person said. Bloomberg earlier reported that Ford may make an announcement as early as May 1. A Ford spokesman declined to comment.
"We do take succession planning very seriously," Ford spokesman Susan Krusel said. "We do have succession plans in place for all of our key leadership positions, but for competitive reasons we do not discuss them."
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!