Ford Motor Co.'s (F: Quote) Chief Executive Officer Alan Mulally is expected to retire by the end of next year, Bloomberg reported Tuesday, citing a person familiar with the company's succession plan.
Bloomberg also reported that Ford directors are preparing to promote Mark Fields, Ford president of the Americas, to chief operating officer, a move that would make him the probable successor to 67-year old Mulally.
Mulally, who joined Ford in September 2006 from Boeing Co. (BA), guided the automaker through a major turnaround while avoiding the bankruptcy restructurings that its closest rivals General Motors Co. (GM) and Chrysler Group LLC. had to undergo.
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by RTT Staff Writer
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