Reports indicate that at Ford Motor Company's last board meeting, board members discussed the future of the company, particularly who will succeed Alan Mulally as CEO.

Mark Fields, currently the president of the Americas for Ford Motor Company, is regarded as the next in line in terms of Ford's overall leadership. According to an insider, the board is reportedly “promote Mark Fields to COO from president of the Americas as part of an unconfirmed plan to have him eventually succeed Mulally”.

Currently, the succession plan for FoMoCo has been relatively unclear, reportedly affecting stock values.

Alan Mulally is widely considered to be the hero of the Ford brand. During his term where the U.S. saw the hardest economic depression since the 1930s, Ford turned itself into a leaner company by selling off other brands it owned like Aston Martin, Jaguar, Land Rover and Volvo, as well as worked towards the One Ford plan that improved their products and streamlined operations globally.

Under his leadership, Ford was the only one of the three major U.S. automotive giants to avoid the bankruptcy issues and bailouts that plagued General Motors and Chrysler.

Mulally has made no statement about retirement, but the 67 year old has made it clear during a press conference that he loves it at Ford.

SOURCE: Automotive News