Ford May Have Found Succesor For CEO Alan Mulally

Ford Motor has picked COO Mark Fields to succeed Alan R. Mulally as the next chief executive of the company, according to reports from Bloomberg and The New York Times. Previously, Mulally has said he would remain as CEO through 2014, however, the transition may happen earlier, and could possibly be announced before Ford’s annual shareholder meeting next month.

Fields joined the company in 1989. He spent seven years running Ford’s Americas division before becoming COO in December 2012. Mulally was recruited from Boeing in 2006 just as Ford was spiraling toward financial disaster.