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Mark Fields to Become New CEO of Ford Motor Company

Mark Fields, a New Jersey native and 25-year company veteran, will officially take the reins from Alan Mullaly and become the CEO of Ford Motor Company effect July 1st.

Mulally had been the CEO of Ford Motor Company since coming over from Boeing Co. in September 2006.  He was able to steer the company through the financial crisis and help Ford avoid the bailouts and bankruptcies that befell General Motors and Chrysler.

Fields became the heir apparent in December of 2012 when he was promoted to COO after leading Ford’s North American operations from deep losses to record profits.  Executive Chairman Bill Ford said in a statement that he did consider outside candidates but both he and Mulally kept coming back internally to Fields.

“Clearly I did look outside because I have to, but you know, I kept coming back internally, as did Alan, to Mark,” Ford said. “He’s part of the culture of Ford that is so positive.”  Mulally, in a CNBC interview, said Fields has been the clear front-runner for the job.  “To watch him step up and do this job, and with his belief in the strategy, we have the right guy at the right time to take Ford forward,” Mulally said.

Left to Right: Alan Mulally, Bill Ford, Mark Fields