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Ford to name Fields as CEO soon, replacing Mulally: Source

Published on Apr 22, 2014 6:06 AM
Mark Fields, chief operating officer for Ford Motor Company, speaks before unveiling a new 2015 Ford Mustang 50 Year Limited Edition in Las Vegas on April 17, 2014. Ford Motor Co will name Fields as successor to Chief Executive Alan Mulally soon, Bloomberg reported, citing two people familiar with the pending announcement. -- FILE PHOTO: REUTERS

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."

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