Ford’s Mark Fields to become chief operating officer from president of the Americas

Article by Christian Andrei, on September 13, 2012

There are insider reports saying that Mark Fields, the current Ford Motor Co. president of the Americas, will be promoted to chief operating officer, making it highly possible that Ford’s directors are grooming him to be the successor to CEO Alan Mulally. Bloomberg cited a person familiar with the plan as the source.

It’s likely that Ford’s board will make the vote this month or in October to promote Fields. A Ford veteran for 23 years, Fields had served as the executive vice president of Ford of Europe. He had also led its luxury brands in Europe like Jaguar, Land Rover, Aston Martin and Volvo, which was later sold by Ford. Fields also gets the credit for contributing to the transformation of Ford’s North American operations from having incurred losses four years ago to achieving record profits in 2012.

The board meeting is set to take place Wednesday. If Fields does get this promotion, he will be in line to be the replacement of 67-year-old Mulally, who is credited for having saved Ford (the No.2 biggest automaker in the U.S.) without having to resort to bankruptcy or a federal bailout. The source told Bloomberg that Fields has always been the favourite to replace Mulally, who is set to retire at the end of 2012.

According to a report from The Wall Street Journal last Tuesday, several Ford directors believe that Ford should announce a succession plan in order to give make shareholders secure as well as offer promotion opportunities for executives who currently report to Mulally. Several sources told The Journal that Ford hasn’t yet made the vote to permit a concrete succession plan.

Ford would need to announce this decision right away since a change in the executive suite would be material to its financial outlook and business. Mulally hasn’t confirmed when he will retire. The Journal said that the other board members don’t intend to force him out but are making plans for his departure by the end of 2012.

Topics: ford, united states

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

In the minivan segment, the 2017 Chrysler Pacifica is already impressive in terms of fuel economy figures – as rated by the United States Environmental Protection Agency. In fact, the...
by - December 2, 2016
Having a blacked-out Bentley Mulsanne Speed is already menacing by itself but by naming it as the Bamford X, it became all the more imposing. This model was made by...
by - December 2, 2016
We have good news for those who are waiting for the latest version of the Mazda CX-5 compact crossover. It was just unveiled in November at the 2016 Los Angeles...
by - December 2, 2016
Those familiar with racing know that Marco Wittmann’s win during the 2016 Deutsche Tourenwagen Masters held last May was noteworthy as it was his second title in four seasons. In...
by - December 2, 2016
Volvo has revealed that while its products are used by a number of police organizations around the world, it will be the Swedish police that will get the first chance...
by - December 2, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries