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Ford COO Fields to Replace Retiring CEO Mulally, Reports Say

Ford is expected to name Mark Fields as successor to Alan Mulally, who will step down as chief executive officer before the end of the year, according to reports on Monday.

Fields was named the automaker's chief operating officer in December 2012.

Ford is expected to name Chief Operating Officer Mark Fields as CEO to replace Alan Mulally who will retire.
Ford is expected to name Chief Operating Officer Mark Fields as CEO to replace Alan Mulally who will retire. Bill Pugliano / Getty Images

"There is no change from our previous announcements and we do not comment on speculation," Ford spokeswoman Susan Krusel told CNBC. "We take succession planning very seriously, and we have succession plans in place for each of our key leadership positions. For competitive reasons, we do not discuss our succession plans externally."

Last September, rumors surfaced that Mulally had become the front-runner to replace Steve Ballmer as CEO of Microsoft. Mulally downplayed the reports, saying he is committed to Ford.

Mulally was hired in 2006 and has been credited with helping to bring Ford back from the brink of collapse at the height of the financial crisis.

-CNBC

(Reuters contributed to this report)