Ford Reportedly Set to Name Mark Fields CEO

April 24, 2014
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Mark Fields

Mark Fields

Ford Motor Company COO Mark Fields may soon become Ford CEO Mark Fields. That’s because beloved current CEO Alan Mulally is rumored to be retiring before year’s end, and Fields is said to be the pick to replace him.

Mulally has been CEO of Ford since replacing Bill Ford in 2006, leaving Boeing to take the reins at the then-troubled automaker. Since his arrival, he has not only managed to turn the company’s fortunes around, he did it without any government assistance during the 2008-09 economic crisis. 

The 68-year-old Mulally said he would stay through 2014, if necessary, but the board of directors could approve an earlier departure.

Who is Mark Fields?

The Ford governing body certainly appears to have full confidence in Fields, grooming him to take over Mulally’s position since 2012. At that time, he was given the newly created position of Chief Operating Officer … the signal he was next in line for the CEO role.

For his part, 53-year-old Mark Fields seems ready to take over. He is a graduate of Rutgers University who also earned his MBA in Economics at Harvard. He has capably run Ford of Europe, and even moved to Japan to oversee the Mazda brand.

Why Mark Fields Could Be Named CEO Soon

Rather than let Mulally finish out the year, Ford seems determined to use this as an opportunity to show their trust in Mark Fields during this period of transition – which is why this could happen sooner rather than later. Making the announcement on their terms would go a long way toward reassuring Wall Street that the company is in good hands, especially in light of the way the company was viewed last year when rumors swirled that Mulally was leaving to take over Microsoft.

Ford currently has no comment on the matter, saying they’ll let everyone know if and when any changes occur.

 

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