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Field moves from COO to CEO at Ford

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Ford Motor CEO Alan Mulally will be handing over the reins of the company to current chief operating office Mark Fields July 1, marking the second major transition at one of the “big Detroit 3” this year. The other occurred in January when Mary Barra replaced Dan Akerson as GM chief executive officer.

“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 (including Ford’s Mazda subsidiary and Ford’s Premier Automotive Group) into much stronger businesses during his 25 years here. Now, Mark is ready to lead our company into the future as CEO."

Alan Mulally has been President and CEO at Ford since 2006, and is responsible for steering the company through the recession and returning it to profitability while avoiding the need for a government bailout. He also transformed the company’s leadership into a cohesive operating machine as well as “strengthened its position as one of the world's leading global automakers with its most ambitious expansion into international markets in the past 50 years.

Prior to taking over Ford’s operation, Mulally served as executive vice president of Boeing and the CEO of Boeing Commercial Airplanes, bringing back its competitive edge against Airbus during the first decade of the century.
“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 stated at a recent board meeting. “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.”

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