Ford CEO Alan Mulally to Retire July 1

By | May 01, 2014
Last week, Bloomberg reported that Mark Fields will be Alan Mulally's replacement as Ford CEO. Now, the automaker has come forward to not only confirm this, but to move up the time table on when Fields will be taking over. Current Ford President and CEO Alan Mulally will retire as of July 1, after serving a term of almost eight years. "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. 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," said Executive Chairman Bill Ford. Mulally has been responsible for much of the company's transformation into one of the world's leading global automakers. During his tenure, Ford has achieved 19 consecutive quarters of profitability, as well as developed the strongest vehicle lineup in the company's history. Fields has some pretty big shoes to fill, but both Bill Ford and Alan Mullaly are confident that he will be a great leader. He plans to not only build upon the One Ford plan, but to build further on the global introduction of new products and innovations offered by Ford. "It is a true honor to lead this great company and this talented team into the future. 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," said Fields. Source: Ford