Alan Mulally to Retire From Ford on July 1

Alan Mulally to Retire From Ford on July 1

Alan Mulally, president and CEO of Ford Motor Company is set to retire. The influential executive will step down from his post in just two months.

Mark Fields, the Blue Oval’s COO will take over for Mulally starting on July 1. Fields has been with Ford for about 25 years.

Mulally, 68, started at the Dearborn, Mich.-based automaker in September 2006 when he was poached from Boeing. He’s led the company through troubled times, including the so-called Great Recession when the firm’s domestic competition was forced to enter bankruptcy. He also helped create their “One Ford” strategy, which has led to profitability and growth.

Beyond these achievements Mulally pushed the company to expand in markets around the world. His leadership has also resulted in 19 consecutive quarters of profitability.

Fields is 53 years old and has served as COO since December 2012. Before this he was the Blue Oval’s executive vice president and president of the Americas. In many circles Fields was an odds-on favorite for taking Mulally’s place.

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