DETROIT: Longtime Ford executive Mark Fields was named chief operating officer of the company on Thursday, putting him in line to replace CEO Alan Mulally as soon as 2015.
Mulally, 67, said Thursday that he plans to remain CEO at least through 2014, putting to rest — for now — the swirl of speculation about his retirement plans. Fields will become COO on Dec. 1.
Fields, 51, will lead day-to-day operations and head up the company’s weekly business reviews with senior leadership. All of the company’s business units will report to him.
Mulally will lead the company’s long-term strategy and product plans. He’ll also support and mentor his new leadership team.
Ford Executive Chairman Bill Ford said Fields has managed the transformation of the company’s North American operations.
The company closed plants, laid off thousands of workers, streamlined its vehicle development process and introduced strong new vehicles like the Explorer and Fusion.