Ford is announcing its plans for Mark Fields to replace Alan Mulally as Ford's CEO this morning.
Ford Motor Co. is expected to make it official this morning, announcing that CEO Alan Mulally will be retiring, his successor to be the automaker’s current Chief Operating Officer Mark Fields.
The timing of the 68-year-old Mulally’s imminent departure has been a subject of widespread speculation for more than a year, and the seeming certainty of Fields’ ascent grabbed headlines in April when widespread reports indicated the management changes would be announced ahead of this month’s Ford shareholders meeting.
The 53-year-old Fields is expected to largely maintain the profitable business strategy Mulally implemented after joining Ford eight years ago – allowing the company to avoid the bankruptcies that nearly destroyed Detroit rivals General Motors and Chrysler. Nonetheless, the departure of former Boeing executive Mulally will raise numerous questions – notably whether there will be any additional shake-ups in Ford’s senior management team.
Joe Hinrichs, currently the third in command as Ford’s President of the Americas, is expected to move into Fields’ role as COO. Among those who observers will be asking about is Jim Farley, the current global marketing director and head of the struggling Lincoln brand.
TheDetroitBureau.com will have more details as they emerge this morning.