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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.

Ford announces free brake pad offer if customers stop by dealers

These days, when you buy a new car, it's not unreasonable to expect a certain period of free maintenance to come along as well. Sometimes this is through the life of the warranty, in other cases a little less. But Ford Motor Company is going beyond those deals for at least one part of its cars. As of now, if you buy a set of Motorcraft brake pads for a Ford, Lincoln or Mercury model, you get free replacements for as long as you own the vehicle. The offer is good at Ford or Lincoln dealers and Quick Lane Tire & Auto Centers.
"We will replace the pads for as long as you own the vehicle," said Elizabeth Weigandt to Autoblog. She did clarify that the Motorcraft pads are generally for models from the '90s or newer. Also, to take advantage of this program, a person must return to the same dealer each time to get the free parts.
Of course, Ford isn't just handing out brake pads to anyone who walks by; there are certain stipulations. First, the components have to be worn down to less than three millimeters to be eligible, and the buyer still has to pay for the labor to install them. If the model is used as a fleet vehicle for commercial purposes like as a taxi or limousine, this offer also doesn't apply; the same thing for racecars. On the plus side, if you recently bought a set of pads from one of the participating locations, you're still in luck. The deal covers parts purchased as of July 1.

Leno talks racing with NASCAR racer Joey Logano

Jay Leno has to be under significant pressure knowing the appetite his fans have for a new Jay Leno's Garage video every week. This time, Jay takes a break from his usual format (something he's been doing with some frequency as of late) and goes back to his roots as a talk show host. There's no classic in the garage his episode with an interesting story to tell and a sumptuous exhaust note. Instead, the focus is purely on interviewing 23-year-old NASCAR racer Joey Logano about what it's like to be a racecar driver in his Ford Fusion.
Logano started racing at the tender age of six and has risen up the circle-track ranks to the big show of the NASCAR Sprint Cup. The two of them talk about what it's like to compete in the sport today compared to yesteryear, and Logano shares some racing anecdotes. Of course, they also get into what it's like to be on the racetrack controlling a car with about 850 horsepower, a four-speed manual transmission and brakes without any power boost. Scroll down to watch the video.