Ford (F) could be replacing CEO Alan Mulally with the company’s chief operating officer Mark Fields in the near future.
Mulally’s upcoming retirement has forced the company to find a new CEO, according to a Bloomberg report. The source claims that Ford is looking to hire from within and the company could be making the CEO announcement as early as May 1.
68-year-old Mulally is widely considered to be the man who helped Ford avoid bankruptcy after his 2006 arrival. The former Boeing (BA) employee helped the company pay off its $23 business loan with a turnaround plan that cut costs and pushed towards creating more stylish and fuel-efficient vehicles.
F stock is down about 0.1% Monday.
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