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Posts Tagged ‘mulally successor’

Ford Reportedly Set to Name Mullaly’s Successor

Board to promote Fields to COO, according to report.

by on Sep.12, 2012

Ford Pres. Mark Fields during an appearance at the newly renamed Flat Rock Assembly Plant on Monday.

Mark Fields, currently Ford Motor Co.’s President of the Americas, may take a giant step closer to becoming the maker’s next chief executive this week.

The automaker’s board of directors is expected to name the 51-year-old Fields to the new post of Chief Operating Officer, the final step before the New Jersey-born executive could replace highly-regarded CEO Alan Mulally.

Such a move has been widely anticipated, though the timing was unclear. Ford normally does not comment on the timing of board meetings nor the actions on the agenda though a promotion at such a senior level would have to immediately be reported to the U.S. Securities and Exchange Commission.

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A former top Boeing executive, Mulally has been widely credited with turning things around for Ford which, just prior to the recent recession, mortgaged all its key assets, including plants and the “Blue Oval” logo, to raise enough cash to avoid a collapse. The strategy worked, Ford being the only one of the three Detroit automakers to avoid a bankruptcy and federal bailout.


Ford Denies Search Underway for Mulally Successor

WSJ report claims four candidates under consideration.

by on Dec.06, 2011

Ford terms "false" a report that a search is now underway to replace 66-year-old CEO Alan Mulally.

Ford Motor Co. terms “false” a report that it has begun the search for a successor to well-regarded CEO Alan Mulally.

A report in today’s Wall Street Journal claimed the maker was looking at four potential candidates to assume the helm for the 66-year-old executive, who many expect to retire within the next year or two.  The WSJ report claims four potential candidates are under consideration, echoing an earlier report on that when it comes to finding a successor to Mulally Ford would prefer to draw from the ranks of its current management team.

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But in regards to an ongoing search effort, a Ford statement contends, “The Wall Street Journal story is false. As (Chairman) Bill Ford has consistently said, we will always consider both internal and external candidates for any succession plan, but we do not have a search under way for an external CEO successor.”