Exclusive: Ford may keep Mulally as nonexecutive chairman - source

Ford Motor Co's (F.N) board of directors may name Chief Executive Alan Mulally as nonexecutive chairman to keep him involved with the second-largest U.S. automaker after he leaves the top post, a person familiar with the matter said on Thursday.

The board, which held a meeting on Thursday in Dearborn, Michigan, is also leaning toward promoting Mark Fields, the head of Ford's North and South American operations, to chief operating officer, said the source, who declined to be named discussing internal Ford matters.

Bill Ford, the great-grandson of company founder Henry Ford, will remain executive chairman, the source said.

It is unclear when Mulally, 67, will leave his CEO post, although many analysts expect him to retire by the end of 2013. Naming his successor is crucial because the former Boeing Co (BA.N) executive is so closely identified with Ford's ability to avoid the federal bailouts that rescued U.S. rivals, General Motors Co (GM.N) and Chrysler Group LLC, in 2009.

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- Posted: 2012-09-13 23:03:48

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