Ford gets new CEO as Mulally set to retire


New York-listed Ford Motor Company this week named COO Mark Fields director, president and CEO, effective July 1, as Alan Mulally, who led the group since 2006, retires.
In a statement, Ford executive chairperson Bill Ford said the transition was brought forward six months following 68-year-old Mulally’s recommendation to “accelerate the timetable based on the readiness of Ford’s leadership team”.
Fields, 53, had since October 2005 served as executive VP and president of Ford’s operations in the Americas, where he led the transformation of Ford’s North American business – steering it from record losses several years ago to record profits in each of the last four years.
“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,” Ford commented.
Mulally led Ford’s transformation, achieving 19 consecutive quarters of profitability, developed the strongest product line-up in Ford’s history and embarked upon the company’s most ambitious global expansion in the past half century.-By: Natasha Odendaal



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