Americas Chief May Succeed Mulally as Ford CEO

Ford Motor Co.'s board of directors is likely to promote Mark Fields, president of its America's unit, to chief operating officer when it meets on Thursday, Bloomberg News reports, citing an unidentified source.

The move would make Fields the heir apparent to CEO Alan Mulally, 67, who is expected to retire at the end of 2013, the news service says.

Investors have been anxious to know who will succeed Mulally, who is revered for rescuing Ford after his arrival in September 2006 from Boeing Co.

The new post would give Fields global responsibilities, including aiding Ford's attempt to turn around its ailing European unit. As COO, he would work closely with Mulally on companywide issues before the latter retires.

Fields joined the company in 1989 and in 2000 led a turnaround of Mazda Motor Corp. which Ford controlled at the time as the Japanese company's CEO.

He was later named executive vice president of Ford of Europe and CEO of the company's troubled Premier Automotive Group, which consisted of Aston Martin, Jaguar, Land Rover and Volvo. Fields took charge of Ford's Americas unit in 2005.