Fields Slated to Replace Mulally as Ford CEO, Report Says
Mark Fields will replace Ford CEO Alan Mulally when he retires before the end of the year, according to a report from Bloomberg. Fields, currently Ford's chief operating officer, has long been rumored to take the top spot. Although Ford hasn't made an official announcement yet, sources familiar with the matter have now confirmed the suspicions. A Ford veteran, Fields has worked with the company since 1989. In 2000, he led the Mazda division until later moving on to head Ford's premium brands of the time, which included Lincoln, Jaguar, Land Rover, Aston Martin, and Volvo. In 2005, he was put in charge of the Americas division before becoming COO for Ford. Fields has big shoes to fill, as Mulally has been credited with saving the company when it was on the brink of bankruptcy. He managed to remove unprofitable brands and build more vehicles on fewer platforms. By cutting costs and introducing fuel-efficient, global-oriented models, he has put Ford in a very good place. Now all Fields has to do is continue the growth. And Ford has a big year ahead, as it rolls out an aluminum-bodied F-150 and a completely redesigned Mustang sports car for the 2015 model year. Source: Bloomberg
A new Volkswagen recall affects over 26,000 cars.