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Ford to have a new CEO starting with July 1

Published by on May 7, 2014 in News 1 comment

Mark Fields Ford CEO

According to a recent announcement, the Detroit carmaker will have a new CEO starting with the July 1, 2014, Mark Fields, which currently acts as Ford’s chief operating officer (COO). He will replace Alan Mulally, which is currently regarded as one of the most brilliant executives in the world and which has decided to step down from his position at Ford Motor Company.

Mulally took the CEO position at Ford in 2006 after leading aviation giant Boeing. At that time, Ford was facing serious financial difficulties (it reported a huge $12.7 billion loss in 2006), but under his leadership, not only did the company manage a miraculous turnaround, but it was the only Detroit carmaker that didn’t request for government bailout after the 2008 financial meltdown. Mulally, who is now 68, is credited as the main person “responsible” for Ford’s current success, with a $7 billion profit estimated for 2014.

Unlike his predecessor, who came from another company, Ford’s future CEO, Mark Fields, has been with the company since 1989. During this time, the 53 year old executive has held important positions in different Ford divisions, including the head of Ford North America during the financial crisis. He was in charge with leading the “spiritual revolution” that changed the way employees think and communicate and he will also continue Mulally’s One Ford strategy.

As for the Ford, the carmaker will continue launching new models, with no less than 23 newcomers being scheduled for the near future. “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’s executive chairman, Bill Ford, the great-grandson of Henry Ford, also adding that “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.”

Source: Ford

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