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Who will replace Ford CEO Alan Mulally? Rumor has it top heads at Ford are asking that exact question and are preparing for Mulally’s exit in the near future.
According to The Wall Street Journal, Ford has commenced its search for its next CEO. The report states that the automaker is considering two current executives, Mark Fields and Joe Hinrichs. Fields currently sits atop Ford’s Americas unit, while Hinrichs oversees the automaker’s Asian operations. Additionally, two former Ford execs are in the running. The first is Hyundai Motor’s North American CEO John Krafick, who served in a number of product development roles during his 14-year career at Ford. The second is Phil Martens, who is currently CEO of Novelis Inc., an aluminum products company. According to Automotive News, Martens was also involved with Ford product planning.

Ford is denying the rumor.

“The Wall Street Journal story is false,” Ford said today in a statement. “As Bill Ford has consistently said, we will always consider both internal and external candidates for any succession plan, but we do not have a search under way for an external CEO successor.”

However, Ford Chairman Bill Ford Jr. recently told the Journal that his company “has a strong list of internal candidates and the board is pleased to support their further development. While our preference always will be to develop talent internally, we also survey the external environment for potential candidates as a regular course of action.”

The paper reports Mulally is scheduled to step down from his post in two years, after joining Ford in 2006 from the Boeing Company. Since then, Mulally has pulled the automaker from the red ink to its current string of profitable quarters. In third quarter of 2011 Ford has made a net profit of $1.65 billion.

[jpd80]

Ford denies authorizing search for Mulally successor
Alisa Priddle/ The Detroit News

Ford Motor Co. is denying a Wall Street Journal report suggesting a search has been authorized to find a replacement for CEO Alan Mulally, who is expected to step down in the next couple of years.

"The story is false," said Ford spokeswoman Karen Hampton, confirming the board has not sanctioned any external searches for candidates, nor has any outside agency been hired to seek candidates.

Mulally, as a guest on the "Fox and Friends" morning show Tuesday, said, "There's always going to be speculation about succession plans but it's absolutely not true."

The company continues to groom a list of internal candidates for succession when the time comes, which could be in the next two years. Mulally has consistently ducked questions on the timing of his retirement. He is 66 years old.

"As Bill Ford has consistently said, we will always consider both internal and external candidates for any succession plan, but we do not have a search under way for an external CEO successor," Hampton said.

Internal candidates include frontrunner Mark Fields, president of The Americas; Lewis Booth, chief financial officer; Joe Hinrichs who oversees Asian operations; Jim Farley, head of global marketing, sales and service; and Stephen Odell, who heads Ford of Europe.

"Any report of discussions with external candidates is false," Hampton said.

As for suggestions that Ford could hire a chief operating officer at some point in the future to work closely with Mulally and eventually succeed him, Hampton said she cannot rule out board actions in the future, but said the automaker has no current plans to create a COO position.

apriddle@detnews.com

From The Detroit News: http://detnews.com/article/20111206/...#ixzz1fvDrwRGs

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Thats in my post..half way down..

[Falcman0o7]

I'll do it.

[Iggypoppin']

Why would they want to replace the best thing that ever happened to ford?! Mulally is a genius! I hope it is just a rumour, as losing mulally will
not be a good thing.

[Chilliman]

Originally Posted by Iggypoppin'

Why would they want to replace the best thing that ever happened to ford?! Mulally is a genius! I hope it is just a rumour, as losing mulally will
not be a good thing.

I don't think its a case of Ford wanting to replace him, but good risk management (in having a succession plan) for when Mulally eventually retires or moves onto his next challenge - he is 66 after all.

[Bossxr8]

Mark Fields would be the best choice. He did a great job of turning around Mazda.

[Gobes32]

Will be a big loss when it happens, the man is very intelligent and business savvy.

[martyk54]

They'll fill it the same way that every other CEO job is filled. Average graded University graduate with an almost unique ability to tell the right people what they want to hear and spend their lives w/lips attached to ar$eholes.

[Falc'man]

Eight missed calls from Bill last week... was wondering what he wanted.

[tex]

Hahahaha.