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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 To Unveil Solar Hybrid Concept Car At CES

Ford plans to unveil at this month's International CES gadget show a solar-powered concept car that offers the same performance as a plug-in hybrid but without the need for a plug. The C-Max Solar Energi Concept car uses a gasoline engine combined with a gizmo that acts like a magnifying glass to concentrate the sun's rays on the vehicle's roof-mounted solar panels. The automaker says the vehicle's estimated combined city-highway mileage is 100 miles (160 kilometers) per gallon. The U.S. auto maker says that by using solar power instead of an electric plug, a typical owner will reduce their annual greenhouse gas emissions by four metric tons. The company says it sold about 85,000 hybrid or electric vehicles in 2013, including 6,300 units of its C-Max Energi plug-in hybrid. The sun-ray concentrator was developed by researchers at the Georgia Institute of Technology and uses what is known as a Fresnel lens, which concentrates light but can be made thinner than a conventional lens. A full day of sunshine is equivalent to a four-hour battery charge, or 8 kilowatts, Ford says. On a full charge, it should have a range of 620 miles (997 kilometers), the same as the C-Max Energi. The concept car also comes with a plug-in port for standard electric charging. Ford says that 75 percent of all trips made by an average driver could be powered by the sun. After showing off the concept car at the convention in Las Vegas Jan. 7-10, Ford Motor Co. says that it will test the vehicle with institute researchers to determine if it's feasible for mass production. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Gallery 2013 Ford C-Max Energi Test Drive View 9 Photos Green CES Ford Alternative Fuels Fuel Efficiency Solar Cars solar car

The hottest modern sports cars rendered as rally racers

The modern-day World Rally Championship a monumental amount of fun to watch – I should know, as I recently was lucky enough to head to the UK to watch WRC Wales Rally GB – but even the most monstrous of the current WRC cars are based on fairly pedestrian European hatchbacks. Back in the heyday of rally, the Group B era in the 1980s, much hotter cars were the basis of even more incredible competition machines, for the most part. Take the exotic Ford RS200, or the Lancia Delta S4 with its twin-charged engine. And the hatchback-based Group B cars were bonkers, too. So what would some of our favorite modern cars look like if Group B had never ended? A British site named CarWow hired an artist to reimagine everything from the Rolls-Royce Wraith to the Porsche 911 as a retro-inspired rally car, and they were kind enough to let us share the results in the gallery above. The gallery features an Alfa Romeo Giulia in Martini livery, an Audi TT in classic Ur-Quattro colors, a Fiat 500 Abarth sporting massive flares and a hood blister full of auxiliary lights, a new Ford Mustang in RS200 livery, a Lancia Delta in Alitalia colors, a Porsche 911 in Rothmans livery, a Renault-Alpine in classic blue, a Rolls-Royce Wraith tribute to the Jules cologne Corniche Coupe, and a relatively modern-looking VW Touran. So far, the favorite around the office is the incredible Mercedes-Benz S-Class that is an homage to the wonderful 300 SEL 6.8 AMG "Red Pig" that essentially put AMG on the map. Check out the gallery above and see which one you like the best. Related Video: