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It's Official: Ford Names Mark Fields Its Next CEO

Alan Mulally, the man who transformed Ford Motor Co. from a dysfunctional money-loser to a thriving company, will retire July 1 and be replaced by Mark Fields, the current chief operating officer. During his eight-year tenure at Ford, Mulally gambled all of the company's assets on a credit line that kept Ford out of bankruptcy, then used a simple "One Ford" plan to change the company's culture. He was hired away from aircraft maker Boeing Co. in 2006 by Bill Ford, who at the time was running the company. Fields, 53, has been in charge of Ford's daily operations since December of 2012 and was widely expected to one day ascend to the top job. The change in leadership is taking place about six months ahead of schedule, but Ford said that was based on Mulally's recommendation that the new leaders were ready. "Alan and I feel strongly that Mark and the entire leadership team are absolutely ready to lead Ford forward, and now is the time to begin the transition," Bill Ford said in a statement Thursday morning. Bill Ford, the company's executive chairman, is the great-grandson of company founder Henry Ford. Mulally, 68, was trained as an aeronautical engineer. He spent 36 years at Boeing - and was president of the company's commercial airplane division - when Bill Ford lured him to the struggling automaker eight years ago. Mulally overcame skepticism about being an outsider in the insular ranks of Detroit car guys by quickly pinpointing the reasons why Ford was losing billions each year. Mulally put a stop to the infighting that had paralyzed the company and instituted weekly management meetings where executives faced new levels of accountability and were encouraged to work together to solve problems. It took two years for Mulally to turn the company around, but since 2009, Ford has posted pretax profits of $34.5 billion and its shares have more than doubled. Fields was one of the executives passed over when Mulally got the top job in 2006. When he was named COO in 2012, Bill Ford said Fields' decision to stay at Ford and learn from Mulally showed a lot of fortitude and has made Fields a better leader. "There was a lot of speculation about whether he was capable. To his great credit, he stuck to it, he learned from it and showed tremendous fortitude in grinding through an incredibly difficult process," Bill Ford said. This marks the second change in leadership at the top of one of the Detroit automakers this year.

Takata air bag recall list

The National Highway Traffic Safety Administration confirmed yesterday that 33.8 million vehicles with Takata airbags are going to be recalled. It's the largest recall in automotive history. The already record-breaking rate of automotive recalls this year shows no signs of slowing down, especially since millions of cars with defective airbags made by global supplier Takata are under ongoing scrutiny. The federal government is warning owners that inflator mechanisms in the air bags can rupture, causing metal fragments to fly out when the bags are deployed. The faulty air bags have already been blamed for multiple deaths. How do you know if your vehicle is safe? The National Highway Traffic Safety Administration released an updated list of vehicles under recall. Sometimes however, the government's website will crash and the list may not be complete. Check your VIN at the NHTSA website to make sure. The list of cars affected by the recall has not been released, but seem to span multiple models over the years for many of the automakers.

The Stig drives Forza-liveried Ford Focus RS to Gamescom

Auto shows typically present the best opportunities for the public to check out the latest metal the industry has to showcase, but European enthusiasts won't need to wait until Frankfurt or Geneva to see Ford's new performance machinery up close. That's because they'll be able to check out the new Ford GT and Focus RS at the Gamesom expo that opens today in Cologne. But it won't be just any Focus RS, and it won't be driven there by just any old driver. To mark the European debut of Forza Motorsport 6 – whose cover is adorned by the new Ford GT – the Blue Oval automaker has had gamers help design a special livery for the new hot hatch. Wrapped in red, white, and blue with images of the new GT, the unique Focus will be driven by none other than The Stig himself from Top Gear. (Or at least someone in a similar white racing outfit, at any rate.) His Royal Stigness won't have far to go, as Ford's European headquarters are located right there in Cologne (or Koln as the locals call it), less than a half-hour drive down the Rhein river to the Koln Messe where the show will take place. There it'll be showcased alongside the new Ford GT as well, giving gaming fans the chance to check out some very fast Fords up close and personal. Related Video: Aug 4, 2015 | COLOGNE, Germany Ford GT and Gamer-Customised Forza Focus RS to Star During Gamescom; Top Gear's The Stig Helps Unveil One-Off Design - Customised new Focus RS with unique livery designed by players of Forza Motorsport for Xbox unveiled ahead of 2015 Gamescom exhibition in Cologne, Germany - The Stig from BBC's Top Gear drives Forza Focus RS to pre-show event - Visitors to Gamescom – Europe's largest interactive games trade fair – will also see all-new Ford GT supercar on show COLOGNE, Germany, Aug. 4, 2015 – A unique all-new Ford Focus RS featuring an exterior designed by players of Forza Motorsport for Xbox was unveiled today at a special Microsoft event, ahead of the international 2015 Gamescom event in Cologne. The special Forza Focus RS was driven to the event – and accompanied during the evening – by the Stig from BBC's Top Gear, who will feature in the new Forza Motorsport 6 game for the Microsoft Xbox One console. The all-new Focus RS is the third generation of Focus RS cars, following models launched in 2002 and 2009.