Mark Fields to Take Over as Ford CEO

Mark Fields to Take Over as Ford CEO

Ford COO Mark Fields is expected to be named to the company’s chief position sometime in the near future.

Bloomberg reports that the executive will be promoted and that current CEO Alan Mulally will retire from the post this year. The report cites two anonymous sources. The move could be announced as soon as May 1.

Mulally is credited with steering Ford into narrowly skirting bankruptcy through a $23 billion loan. Last year, Microsoft courted Mulally as a top candidate to serve as its chief executive until he withdrew himself from the running in January.

[Source: Bloomberg]

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