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| Version 1 | Version 2 |
|---|---|
| Ford names Mark Fields as new chief executive | Ford names Mark Fields as new chief executive |
| (35 minutes later) | |
| Ford chief executive Alan Mulally is retiring in July and will be replaced by chief operating officer Mark Fields. | Ford chief executive Alan Mulally is retiring in July and will be replaced by chief operating officer Mark Fields. |
| The 68-year-old Mr Mulally was hired from Boeing in 2006, and is credited with leading the firm back to profitability after the 2008-09 financial crisis. | The 68-year-old Mr Mulally was hired from Boeing in 2006, and is credited with leading the firm back to profitability after the 2008-09 financial crisis. |
| Mr Fields, 53, was named chief operating officer in December 2012. | Mr Fields, 53, was named chief operating officer in December 2012. |
| Mr Mulally, who will leave his post on 1 July, was scheduled to step down at the end of the year. | Mr Mulally, who will leave his post on 1 July, was scheduled to step down at the end of the year. |
| 'Fully confident' | |
| Ford has planned the leadership succession for a number of years, Mr Mulally said, and he brought forward his retirement as "everything is in place" for a "very orderly" transition. | Ford has planned the leadership succession for a number of years, Mr Mulally said, and he brought forward his retirement as "everything is in place" for a "very orderly" transition. |
| "We are absolutely fully confident we are absolutely ready," he said. | "We are absolutely fully confident we are absolutely ready," he said. |
| Mr Mulally will not retain a place on the board after retirement. | Mr Mulally will not retain a place on the board after retirement. |
| Ford chairman Bill Ford said: "Alan deservedly will be long remembered for engineering one of the most successful business turnarounds in history." | |
| During the financial crisis, Ford did not have to seek a bailout from the US government and was the only one of the big three US carmakers not to file for bankruptcy protection. | |
| Mr Mulally originally trained as an aeronautical engineer, and spent 36 years at Boeing, before he was approached by Bill Ford in 2006. | |
| Mr Fields, who was one of the executives passed over in 2006 when Mr Mulally was appointed chief executive, joined the company as a market research analyst in 1989. | |
| In 2000, he was made chief executive of Mazda - in which Ford owned a stake at the time - and was later head of Ford's European division. |