Ford boss Alan Mulally, remains in office

The CEO of American automaker Ford, Alan Mulally, will remain in place until at least 2014, and we now know who will succeed him.

The company announced Thursday that the president of the Americas division, Mark Fields, will act as a Chief Operating Officer with effect from 1 December. All divisions will depend manufacturer of him.

Mr. Fields will report to him as Mr. Mulally. The 67 year old man will oversee the long-term strategy of the company.

Mulally has a huge respect Ford for saving the company from bankruptcy. We do not know exactly at what time he retires.

Mr. Fields will be replaced at the head of the Americas division by Joe Hinrichs, who is currently the vice-president of the Asia Region

Mr. Mulally.