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Ford Motor Company Announces Mark Fields as New President, CEO
Alan Mulally To Officially Retire July 1st
Ford Motor Company’s CEO Alan Mulally, 68, plans to retire from his post on July 1st this year and will pass the torch on to Mark Fields, current chief operating officer.
“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.”
Alan Mulally has held down the CEO position since September of 2006 and turned Ford into one of the leading global automakers throughout his almost eight year reign.
“Alan deservedly will be long remembered for engineering one of the most successful business turnarounds in history,” Bill Ford said. “Under Alan’s leadership, Ford not only survived the global economic crisis, it emerged as one of the world’s strongest auto companies. We always will be grateful to Alan for his leadership, compelling vision and for fostering a culture of working together that will serve our company for decades to come.”
Under Alan Mulally, Ford had a profitable 19 consecutive quarters and came through with the strongest product lineup in Ford history as well as taking global expansion to an all-time high.
“Alan and I feel strongly that Mark and the entire leadership team are absolutely ready to lead Ford forward, and now is the time to begin the transition,” said Bill Ford, who recruited Mulally from Boeing in 2006.
"Mark – supported by an experienced and dedicated senior leadership team – is absolutely the right leader to continue to deliver on our compelling vision" - Mulally
Fields, 53, was given the title of Ford’s chief operating officer back in December of 2012. While under that title, he led Ford’s global business operations and skill teams such as product development, manufacturing, purchasing, marketing, sales and service. Fields also led Ford’s transformation in North America since 2005 which went from record losses to record profits in each of the last four years. He also helped with major restructuring of Mazda.
“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,” Alan 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.
As CEO and president of Ford, Fields will continue on with Alan Mulally’s One Ford plan.
“It is a true honor to lead this great company and this talented team into the future,” Fields said. “Under Alan’s leadership, we have seen the power of One Ford and what a culture of positive leadership and working together can accomplish. My commitment is to build on that success by accelerating our pace of progress. All of us at Ford are committed to delivering even more of the great products and innovations that will deliver growth and define our company going forward.”