Mulally Will Advise Ford CEO Fields

Ford Motor Co. CEO Alan Mulally tells Bloomberg News that after retiring on July 1, he will continue to advise successor Mark Fields on an informal basis.

Mulally, who is credited with reviving the company after arriving from Boeing Co. as its CEO in 2006, declares he will "stay close to Ford" in the years ahead.

He has not indicated what he may do after leaving the carmaker. But Bloomberg cites unnamed sources who say he is looking for a corporate position as chairman or board director.

At Ford, Mulally established a collaborative environment noted for its candid weekly meetings with top executives to discuss problems and solutions. He tells Bloomberg the same approach would work in "any organization that is trying to deliver something that is really important."