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Report: Ford Set to Announce CEO Changes

Chief operating officer Alan Mulally will be the new CEO


Ford (F) could be replacing CEO Alan Mulally with the company’s chief operating officer Mark Fields in the near future.

FordMulally’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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