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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 recalls Explorer, Flex, Taurus for parking brakes

Ford announced a recall of nearly 8,000 vehicles spread across a broad range of models for a faulty parking brake, which might not engage fully. The automaker has not received any reports of accidents or injuries resulting from the issue. The recall affects certain examples of the 2015-16 Ford Explorer, the 2015 Taurus, and the 2015 Flex. The 2015 Lincoln MKS and MKT are also included in the campaign. The vehicles in question were assembled at the company's Chicago and Oakville (Ontario) plants from May 4 to May 23. All told, 7,165 of the affected vehicles are estimated to be in the United States, with another 799 in Canada, and a solitary example in Mexico. In order to address the issue, owners are asked to bring the affected vehicles their local dealership, where technicians will inspect the vehicle and where necessary, replace the parking brake control assembly. Jul 22, 2015 | DEARBORN, Mich. Ford Issues Safety Compliance Recall in North America DEARBORN, Mich., July 22, 2015 – Ford is issuing a safety compliance recall for approximately 8,000 vehicles in North America, including certain 2015-2016 Ford Explorer, and certain 2015 Taurus and Flex, as well as Lincoln MKS and MKT vehicles for an issue with the parking brake. In these vehicles, the parking brake might not engage fully, which is a compliance issue with FMVSS 135 regarding brake systems. Ford is not aware of any accidents or injuries associated with this issue. Affected vehicles include certain 2015-2016 Ford Explorer vehicles built at Chicago Assembly Plant, May 4, 2015 through May 23, 2015; certain 2015 Ford Taurus vehicles built at Chicago Assembly Plant, May 4, 2015 through May 23, 2015; certain 2015 Ford Flex vehicles built at Oakville Assembly Plant, May 4, 2015 through May 23, 2015; certain 2015 Lincoln MKS vehicles built at Chicago Assembly Plant, May 4, 2015 through May 23, 2015; and certain Lincoln MKT vehicles built at Oakville Assembly Plant, May 4, 2015 through May 21, 2015. There are 7,165 vehicles in the United States and federalized territories, 799 in Canada and one in Mexico. Dealers will inspect the vehicle and, if necessary, replace the parking brake control assembly at no cost to the customer. Related Video: Featured Gallery 2016 Ford Explorer View 30 Photos News Source: Ford Recalls Ford Lincoln Crossover Sedan ford flex lincoln mks lincoln mkt

2023 Detroit Auto Show Mega Photo Gallery: All the new reveals and first looks

The 2023 Detroit Auto Show didn’t play host to a lot of reveals, but on top of the new cars that were revealed there, automakers brought a whole bunch of cars we havenÂ’t seen in person yet. In a show of home strength, all the big reveals came from the hometown Big Three, with Ford, GM and Stellantis playing host to the most important unveilings. We took Huntington Place by storm to capture all of the new cars and sights to see in Detroit, and you can see everything we did in the series of galleries below. Interesting special editions like the 2024 Ford F-150 Lightning Platinum Black Edition and the 2024 Chevrolet Camaro CollectorÂ’s Edition found some floor space alongside bigger debuts like the refreshed gasoline-powered F-150 and 2024 Jeep Gladiator with its new interior. If you wanted to see it all yourself, make sure you check out our guide on how to attend the public show days. Scroll on down to see all of the galleries for all of the big Detroit debuts.   2024 Ford F-150 2024 Ford F-150 Tremor View 22 Photos   2024 GMC Acadia 2024 GMC Acadia AT4 View 17 Photos   2025 Cadillac CT5 2025 Cadillac CT5 View 15 Photos   2024 Jeep Gladiator 2024 Jeep Gladiator Live View 10 Photos   2025 Ford Mustang GTD Mustang GTD View 9 Photos   2024 Ford Mustang Mach-E Rally 2024 Ford Mustang Mach-E Rally View 10 Photos   Chevrolet Colorado ZR2 AEV Bison Chevrolet Colorado ZR2 AEV Bison View 6 Photos   2024 Ford F-150 Lightning Platinum Black 2024 Ford F-150 Lightning Platinum Black View 11 Photos   2024 Chevrolet Camaro CollectorÂ’s Edition ZL1 1LE 2024 Chevrolet Camaro Collector's Edition ZL1 1LE View 8 Photos   2024 GMC Sierra EV Denali 2024 GMC Sierra EV Denali View 8 Photos   Related video: Design/Style Green Detroit Auto Show Cadillac Chevrolet Ford GM GMC Jeep Technology Truck Coupe Crossover SUV Electric Hybrid Luxury Off-Road Vehicles Performance Sedan