Ford Motor Co. has promoted Mark Fields, who had been president of the Americas, to the position of chief operating officer, a move analysts consider to be indicative of a succession plan at the family-controlled automaker.
CEO Alan Mulally, 67, has agreed to stay in his post through 2014.
The
Los Angeles Times
reported
that Mulally “will now focus on long-term strategic development and on bringing Ford’s struggling European operations back to profitability.”
The
LA Times
report noted that in making the announcement, Ford Motor’s executive chairman, Bill Ford, said it was not guaranteed that Fields would be the next CEO. “We felt it was important to put some sort of date out there because there has been so much speculation in terms of when’s Alan really going to stay and when is he going to go,” Ford said. “But don’t read anything beyond that into this.” (Source:
Los Angeles Times,
Nov. 2, 2012.)
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