After nearly eight years with CEO Alan Mulally behind the wheel, Ford is ready to shift leaders and move Chief Operating Officer Mark Fields into the top job at the country's second-largest automaker.
Sources told CNBC on Monday that Ford will soon announce Fields as the next CEO of Ford, though an exact date for the announcement has not yet been set.
Ford spokesperson Susan Krusel would not comment on the reports of Mulally's impending departure.
"There is no change from our previous announcements and we do not comment on speculation. We take succession planning very seriously, and we have succession plans in place for each of our key leadership positions. For competitive reasons, we do not discuss our succession plans externally," Krusel said.
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Last September, rumors surfaced that Mulally had become the front-runner to replace Steve Ballmer as CEO of Microsoft. Mulally downplayed the reports, saying he is committed to his job. Fields, 53, has served as Ford's chief operating officer since late 2012 and has gradually taken over more day-to-day leadership responsibilities from Mulally.