Mulally Might Stay at Ford as Non-Executive Chairman

Ford Motor Co. is considering keeping CEO Alan Mulally around as non-executive chairman after his retirement, Reuters reports.

The news service cites an unidentified source who says Bill Ford Jr. would continue to serve as executive chair. It is rare for an American company to have two chairmen.

News reports says Ford's directors discussed Mulally's eventual successor at its meeting on Thursday. The board is widely expected to name Americas President Mark Fields as chief operating officer, thus making him heir apparent.

But the company has made no announcement. Mulally has not disclosed his plans but is expected to retire at the end of 2013.