Breaking: Alan Mulally Will Retire as Ford CEO July 1
Current Ford COO Mark Fields will take the reigns upon Mulally's retirement
After the news leaked earlier in April that current Ford CEO Alan Mulally would be soon succeeded by Mark Fields, Ford today confirmed Mulally’s departure date as July 1. As expected, Fields will take up the mantle of Ford’s man-in-charge, as well as a seat on 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 in a statement. “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.”
After nearly eight years as the CEO of Ford, Mulally, 68, has been vital in shaping Ford through turbulent economic times and making them a global power. Under Alan Mulally’s leadership, Ford has enjoyed 19 consecutive quarters of profitability, making them among the first names in automotive around the world.
Mulally was originally scheduled to retire at the end of 2014, but the move was expedited by the readiness of Ford’s leadership team to handle his exist.
Fields, 53, will step into the role after serving as COO from December 2012. Fields has been responsible for leading all global business operations for the automaker, as well as heading up skill teams such as product development, manufacturing, purchasing, and marketing, sales and service.
Fields led this week’s Business Plan Review meeting, which monitors Mulally’s One Ford plan, global business, and ongoing automotive trends worldwide. Fields is committed to Mulally’s One Ford plan, and plans to continue to build the brand’s status as a multinational power.
“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,” Mulally said. “By working together with all of our stakeholders around the world, we now are accelerating Henry Ford’s original vision to open the highways to all mankind.
“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.