Bloomberg is reporting that Ford is ready to announce a departure date for CEO Alan Mulally, as well as his replacement.
Agence France-Presse/Getty Images From Bloomberg’s story:
Ford Motor Co., the second-largest U.S. automaker, will soon name Mark Fields its next chief executive officer and reveal when current CEO Alan Mulally will retire from the company he is credited with saving, according to two people familiar with the pending announcement.
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Mulally, 68, will step down before the end of the year and be succeeded by Fields, 53, now chief operating officer, according to the people, who asked not to be identified revealing internal plans. The Dearborn, Michigan-based company may announce the moves as soon as May 1, the people said.
Mulally had been rumored to be the choice to replace Steve Ballmer at Microsoft (MSFT), until he removed his name from consideration.
Shares of Ford have dropped 0.3% to $15.95 at 2:21 p.m.
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