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Watch live as Mark Fields is officially named Ford's next CEO

We've heard rumblings of a changing of the guard at Ford, and this live stream from The Blue Oval itself is set to confirm the rumors: Alan Mulally will be succeeded by the automaker's current Chief Operating Officer, Mark Fields.
Mulally, who is 68 years old, has served at the head of Ford for eight years, and his official retirement date will be July 1st, 2014. Fields, who is 53 this year, has been with Ford for 25 years and has been groomed to take the helm from Mulally for the last several of those years.
There's an official press release that you can read, but if you're more of a visual person, you're welcome to watch the live video feed of the announcement down below.

Company veterans promoted to set a course for the future of Ford

Ford on Wednesday named two company veterans to lead its auto and mobility businesses as the No. 2 U.S. automaker shifts its focus to autonomous vehicles and realigns its automobile portfolio. Joe Hinrichs was named president of Ford's automotive unit, and Jim Farley will be president, new businesses, technology and strategy, effective May 1. Both will report to Chief Executive Officer Jim Hackett. Hinrichs' goal will be a sustainable EBIT margin (earnings before interest and taxes) of at least 8 percent, Ford said. He'll have responsibility for all of Ford's global business units, and both the Ford and Lincoln brands. And he'll lead all of the automotive skills teams, from product development through customer experience. "Joe Hinrichs possesses the knowledge, experience and leadership to now take our Automotive business to world-class levels of product excellence, customer satisfaction, efficiency and financial performance," Hackett said. "As we enter a busy period for new product launches and further restructuring in underperforming markets, Joe's leadership in transforming businesses through focused execution will be key." Farley is charged with leading Ford's strategic transformation, in which it hopes to gain higher margins through smart/connected vehicles. He'll oversee corporate strategy, global data analytics, global partnerships, research and advanced engineering, including initiatives in smart mobility and autonomous vehicles. "Jim Farley's job is to drive us into the future, both strategically and operationally, from AVs to mobility experiences to leveraging AI and big data. Jim combines an innate feel for what customers want and need in vehicles and the ability to translate this into the vehicles and services of the future," Hackett said. Marcy Klevorn, president of Ford Mobility, plans to retire Oct. 1 after 36 years at Ford. Until then, she will report to Hackett in a strategic role. "I have asked Marcy to work with me and the senior team to accelerate our transformation," Hackett said. "Marcy's decades of experience working with many of the leading companies in the tech space as well as the work she has done with the transformation of Ford IT and the establishment of Ford Mobility gives her unique knowledge to drive these initiatives."

Will the new Ford GT race at Le Mans?

Ford stole the spotlight here on the floor of the Detroit Auto Show this year with the reveal of the new GT. Its carbon-fiber chassis, 600-plus-horsepower EcoBoost engine and radical aerodynamic shape made sure of that, but flanking it with the debuts of the Mustang GT350R and F-150 Raptor didn't hurt any, either. Any racing fan looking at the new Blue Oval supercar, however, had to wonder whether Dearborn is planning on putting it on the race track. The House that Hank Built is, after all, a known entity in motor racing. It may be canceling its V8 Supercars program Down Under, withdrawn its support from the World Rally Championship, and it's been years since it's competed in Formula One or Indy. But it still competes in the United SportsCar Championship, NASCAR, NHRA and a variety of motor racing disciplines. One of its most famous and celebrated of racing endeavors, however, came in the form of the original GT40 that brought Ford four consecutive victories at the 24 Hours of Le Mans, starting with a dominant one-two-three finish in 1966. It's the 50th anniversary of that landmark win which the new Ford GT celebrates, but while the press materials made clear reference to that historical event, any mention of a return as was previously speculated was carefully omitted. That, according to Autosport, could come down purely to the ACO, the organizers of the event and sanctioning body for its associated series, which has yet to announce the revised format for the GTE class under which a potential Ford GT racer would compete in 2016. Longtime Ford racing partner Multimatic is said to have closely consulted with the ACO on the formation of those rules, however, and assuming they're finally formulated to Dearborn's liking, we could be looking at a GTE-spec Ford GT to return to La Sarthe next year in celebration of that landmark victory half a century prior. Chip Ganassi Racing – which races under Chevy power in NASCAR and Indy but recently switched to Ford for its Daytona Prototype – is said to be in line to field the car on Dearborn's behalf. If given the green light, it would be the first time Ford would field a factory effort at Le Mans since the C100 project under the Group C category in the early 1980s. A racing version of the previous Ford GT was prepared by Switzerland-based Matech a few years ago, but without factory support or notable success beyond the FIA GT3 European Championship.