When Ford president and CEO Alan Mulally retires July 1, he will hand the keys over to a familiar face. Current COO Mark Fields will step into the role as head of Ford Motor Company.
Fields will be named president and chief executive officer and elected as a member of the company’s board of directors.
“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. “Mark has transformed several of our operations around the world into much stronger businesses during his 25 years at Ford. Now, Mark is ready to lead our company into the future as CEO.”
Fields, age 53, was named Ford’s COO in December 2012 and has been part of Ford’s operations team, including product development, manufacturing, purchasing, marketing, sales and service, since 2005.
Mulally, who was recruited from Boeing in 2006, played a big role in planning for his successor.
“Alan and I feel strongly that Mark and the entire leadership team are absolutely ready to lead Ford forward, and now is the time to begin the transition,” said Ford.
Mulally, age 68, thanked the leadership team and the board for their many accomplishments during his tenure.
“Ford’s future is so bright, and Mark – supported by an experienced and dedicated senior leadership team – is absolutely the right leader to continue to deliver on our compelling vision,” Mulally added. “It has been an honor to serve and contribute to creating a viable, profitably growing company for the good of everyone associated with the Ford Motor Company.”
Fields reaffirmed his commitment to the One Ford plan, including building on the company’s global brand and innovation within the industry.
“It is a true honor to lead this great company and this talented team into the future,” Fields said. “Under Alan’s leadership, we have seen the power of One Ford and what a culture of positive leadership and working together can accomplish. My commitment is to build on that success by accelerating our pace of progress. All of us at Ford are committed to delivering even more of the great products and innovations that will deliver growth and define our company going forward.”
Photo Credit: Ford