If last week was just a rumor, today it became official: Ford CEO Alan Mulally will retire on July 1 and Mark Fields will be named Ford president and chief executive officer. As you may know already, Alan Mulally, 68, has been at Ford for almost eight years and he was the man who managed to transform and position the company as one of the world’s leading global automakers.
Mulally’s One Ford plan achieved a profitable growth, with 19 consecutive quarters of profitability. Moreover, during Mulally’s eight years at Ford, the American carmaker developed its strongest product lineup in its history. According to the official press release, the transition is July is six months earlier than anticipated as Mulally recommended to accelerate the timetable based on the readiness of Ford’s leadership team.
Mark Fields, 53, was named Ford’s chief operating officer (COO) in December 2012 and since then, he has been leading Ford’s global business operations and most skill teams such as product development, manufacturing, purchasing, as well as marketing, sales and service.
Furthermore, Field’s role as COO also included leading the company’s weekly Business Plan Review meeting, established by Mulally in order to track the progress of the One Ford plan and monitor the global business and competitive environment.
“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,” Executive Chairman Bill Ford said. “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.”
Mulally also wanted to thank the Ford team for their contributions and accomplishments: “It has been an honor to serve and contribute to creating a viable, profitably growing company for the good of everyone associated with the Ford Motor Company,” Mulally said.
“By working together with all of our stakeholders around the world, we now are accelerating Henry Ford’s original vision to open the highways to all mankind.” “Ford’s future is so bright, and Mark – supported by an experienced and dedicated senior leadership team – is absolutely the right leader to continue to deliver on our compelling vision,” Mulally added. [source: Ford]