Ford Motor Co.'s (F) 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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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.