Report: Ford CEO Alan Mulally to step down by year end, Mark Fields to be promoted to COO

According to a new report by Bloomberg, FoMoCo is getting ready to promote Mark Fields to Chief Operating officer status from the president of Americas. The move is seen to line him up as the successor to CEO Alan Mulally.

[slider id=111708]

An insider said that the board may vote this month to promote Fields, a 23-year veteran at Ford, who helped lead the transformation of it in North America from record losses four years ago to record profits this year.

Separately, Mulally is expected to step down from his CEO position at the end of next year.

Ford declined to comment on the report.

– By: Omar Rana

Source: Bloomberg