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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.

2015 Ford Mustang spied on video for the first time

Not many cars will continue to hold our rapt attention quite like the upcoming redesigned 2015 Ford Mustang, codenamed S550 internally. Earlier this month, we brought you the first spy photos of a next-gen Mustang prototype out testing, and even though expertly placed cladding concealed the pony car's new shape, we could tell that underneath was hiding an altogether new form inspired by the Evos Concept from 2011.
Today we give you some video of what looks to be the same Mustang prototype, which you can watch below, and while the budding director behind the camera wasn't able to capture much in the way of the engine's audio signature, we can see the car in motion for the first time and compare its relative size and shape to the S197 Mustang GT that's on its tail.

What an Atlas-based Ford F-150 might look like

Just ahead of January's Detroit Auto Show, surprising rumors pegged Ford as revealing some sort of F-150 concept, perhaps as a hurried effort to deflate some of the buzz building around General Motors' new Chevrolet Silverado and GMC Sierra twins, which were also making their auto show debut. Those rumblings turned out to be true, as Ford rolled into the Motor City with its Atlas concept (inset, right), touting the truck's bold styling as a precursor to the next-generation F-Series.
The show truck featured all kinds of clever details, including active wheel shutters and a front air dam that raised and lowered to improve aerodynamics while preserving off-road ability. It also had a genuinely snarly face. And it's that pugnacious snout that may well be on its way to production. The good folks at TopSpeed have worked up the plausible-looking artist's rendering above by cross-referencing the Atlas concept with what little has been revealed from recent spy shots. The look is toned-down pretty dramatically from the concept truck, but its Atlas roots are clear, with a massive three-bar grille and bracket-shaped headlamps hiding a next-generation EcoBoost engine. In the rendering, the show truck's deeply contoured hood and roofline have been ditched and larger, more traditional side mirrors have been fitted - all likely concessions in the move to production sheetmetal.
While Ford has yet to officially announce when it will unveil the 2015 F-150, all signs point to next year's Detroit Auto Show - one year after the Atlas shrugged off GM's new pickups.