Ford names Fields as CEO

Ford Motor Co held a news conference yesterday to confirm the appointment of chief operating officer Mark Fields as its new CEO.

A person familiar with the succession plan had said last month that Ford would soon name Fields to succeed Alan Mulally.

Fields, 53, was named COO in December 2012.

Analysts say he will inherit a much stronger company than Mulally did, one with a highly profitable North American operation underpinned by the top-selling F-150 pickup truck.

Ford has a growing share of China's market, the world's largest, and there is a nascent recovery in Europe.