Report: Ford to announce new CEO soon

Ford Motor Co., the second-largest U.S. automaker, will soon name Mark Fields its next CEO and reveal when current CEO Alan Mulally will retire from the company he is credited with saving, two people familiar with the pending announcement told Bloomberg.

Mulally, 68, will step down by year's end and be succeeded by Chief Opearting Officer Fields, 53, the sources revealed to the news outlet.

The moves may be announced as soon as May 1.

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