Ford Confirms Alan Mulally's Retirement, Mark Fields' Promotion - Presented by: The Aol. On Network

After months of speculation, Ford has finally announced that Alan Mulally will be retiring as president and CEO effective July 1, and that COO Mark Fields will be stepping up to fill his shoes. This transfer of power will occur about six months sooner than originally expected, but this should lessen distractions that might have taken place closer to key vehicle launches like those of the Ford F-150 and Ford Mustang.Mulally, 68, has been with Ford since 2006.



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