By Mike Ramsey
Ford Motor Co. Chief Executive Alan Mulally likely will retire
before the end of the year and Chief Operating Officer Mark Fields
is set to replace him, a person familiar with the matter said.
Mr. Mulally, who is 68 years old, previously has said he would
stay through at least 2014, and Mr. Fields has widely been seen as
his likely successor, even before his promotion to operating chief
in late 2012.
Bloomberg News reported earlier that the announcement may come
by May 1.
A Ford spokeswoman said the company can't comment on
speculation.
Before becoming operating chief, Mr. Fields was the head of
Ford's North and South American business. He led the company's
North American downsizing, which included closing plants and
cutting more than 39,000 employees, and is credited with helping
the company avoid the bankruptcy restructurings that befell its
U.S. rivals in 2009.
He previously ran Ford's European operations and ran its luxury
autos group, which included Volvo, Jaguar and Land Rover. Before
that, he had been president of Mazda Motor Co.
Mr. Fields is a New Jersey native who attended Rutgers
University.
For his part, Mr. Mulally, who joined Ford in September 2006
from Boeing Co, is among the most highly respected CEOs in any
industry, having guided Ford through a major turnaround while
avoiding the bankruptcy restructurings that befell its closest
rivals, General Motors Co. and Chrysler Group LLC. He ended
speculation in January that he would leave the auto maker for
Microsoft Corp., which had considered him for the chief executive
spot being vacated by Steve Ballmer.
Write to Mike Ramsey at michael.ramsey@wsj.com
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