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NEWS
Fields to replace Mulally at Ford
All change at the helm of North America's second biggest car-maker within two monthsFord Motor Company has announced current COO Mark Fields as its new president and CEO from July 1, when current chief Alan Mulally retires.
Mulally, 68, has led the Blue Oval's 'One Ford global transformation' strategy since September 2006, when he was head-hunted from Boeing, while 53-year-old Fields is a 25-year Ford veteran.
"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," said Ford Executive Chairman Bill Ford.
"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."
Mulally, the former boss of Boeing, completes a high-flying 45-year career, in which Ford has achieved 19 consecutive quarters of profitability and embarked upon the company's most ambitious global expansion in the past half-century.
Under Mulally, Ford says it has also developed the strongest product line-up in its history.
"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."
Ford said the transition of its new global chief comes six months earlier than scheduled following Mulally's recommendation to "accelerate the timetable based on the readiness of Ford's leadership team".
"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," 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.
In his capacity of COO, Fields has led all of Ford's global business operations, plus product development, manufacturing, purchasing, marketing, sales and service since December 2012.
Before he became COO, Fields was executive vice president and president of The Americas since October 2005. His position of COO will not be filled.
"It is a true honor to lead this great company and this talented team into the future," said Fields, who at the age of 39 in 2000 became CEO of Mazda Motor Corporation, in which Ford owned a controlling stake at the time. Fields also oversaw the creation of Mazda's successful 'Zoom-Zoom' campaign.
"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."
Ford earned $US42.3 billion in the last five years after losing $US30.1 billion between 2006 and 2008, when the GFC struck.
Under Mulally, unlike GM, Ford avoided Chapter 11 bankruptcy and last year drove Ford's pretax earnings in North America to a record $8.78 billion.
Pictures: Mark Fields, Alan Mulally, (left to right) Mulally, Bill Ford, Fields.
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Written byCarsales Staff
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