Alan Mulally Retiring July 1; Mark Fields Named President and CE

(L-R): Alan Mulally, Bill Ford, Mark Fields

The Ford Motor Company has a new CEO – Mark Fields, who will succeed Alan Mulally on July 1 2014. Mulally is 68 years old this year and he will be retiring after heading Ford for the past eight years, although he doesn’t rule out taking up a job at a new company in the future.

“It has been an honor to serve and contribute to creating a viable, profitably growing company. 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,” Mulally said.

“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.

Once a bleeding automaker in the red along with the other big Detroit automakers, Ford posted a profit of US$8.5 billion in 2013. Many consider Mulally to be the man who saved Ford, but he wasn’t even an auto industry guy. He was considered an outsider, spending most of his career at Boeing where he was hired fresh out of college as an engineer.

His successor Mark Fields however, is an auto industry guy, having spent the last 25 years of his career at Ford. He was promoted to the COO position at Ford in December 2012, basically the number two man at Ford. Once he becomes CEO, the COO position will not be filled.

He started off in Ford as a market research analyst in the late 80s and by the year 2000, he was the CEO of Mazda, then owned by Ford. Fields was also the man who oversaw Mazda’s ‘zoom-zoom’ ad campaign.