The end of an era appears to be coming very soon. A new report from Bloomberg says Ford CEO Alan Mulally will step down and that Mark Fields, the current Chief Operating Officer will take his place sometime this year. Two sources tell Bloomberg that the move could be announced as early as May 1st.
The departure of Mulally closes a chapter in Ford's history where he helped bring the company back from the brink of death and made the company very profitable. At the end of 2013, Ford reported a pretax earnings in North America to a record $8.78 billion. The departure also brings some much needed clarity to Ford's leadership structure.
“We take succession planning very seriously and we have succession plans in place for each of our key leadership positions. For competitive reasons, we don’t discuss our succession plans externally,” said Susan Krusel, a Ford spokeswoman.