Ford Motor Company has named Mark Fields as its next president and chief executive officer.
Fields will take up his new role on 1 July 2014; the date that incumbent CEO, Alan Mulally, is scheduled to retire. Fields has also been elected as a member of the company’s board of directors.
“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,” explained Bill Ford, executive chairman of Ford Motor Company.
“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,” he added.
Fields has served as Ford’s chief operating officer since December 2012. Before assuming this position, he served as executive vice president and president of the Americas. His transition to CEO will take place approximately six months earlier than anticipated, following Mulally’s recommendation to accelerate the timetable based on the readiness of Ford’s leadership team.
Speaking about the transition, 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.”
“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,” added Ford.
Upon his retirement, Mulally will have spent almost eight years of his 45-year career at the helm of the company. The outgoing CEO has led Ford’s transformation, and has strengthened its position as one of the world’s leading vehicle manufacturers. Moreover, under Mulally’s ‘One Ford’ plan for growth, the firm has enjoyed 19 consecutive quarters of profitability.
“Alan, deservedly, will be long remembered for engineering one of the most successful business turnarounds in history,” commented Ford.
“Under Alan’s leadership, Ford not only survived the global economic crisis; it emerged as one of the world’s strongest auto companies. We will always 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,” he continued.
Commenting on his future role, Fields commented: “It is a true honour to lead this great company and this talented team into the future. 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.”
