Ford Motor says COO Mark Fields will replace Alan Mulally as President and CEO effective July 1st. For those who don't know Fields, he has been an integral part of Ford for 25 years. He has helped to around the North American operation, stabilize the European business and help build the booming China business. Fields will be responsible for the launch of the redesigned F-150 later this year even as he tries to navigate issues in Brazil and China. Ruben Ramirez reports from Wall Street.

If you liked this article you might like

5 Auto Stocks to Buy After They Wrongly Crashed on Rising Interest Rate Fears

5 Auto Stocks to Buy After They Wrongly Crashed on Rising Interest Rate Fears

Closing Bell: LIVE MARKETS BLOG

Closing Bell: LIVE MARKETS BLOG

It Makes Sense That Ford Is Boosting Production of $70,000 Lincoln Navigator

It Makes Sense That Ford Is Boosting Production of $70,000 Lincoln Navigator

Broadcom and Qualcomm, Comcast and Fox - 5 Things You Must Know

Broadcom and Qualcomm, Comcast and Fox - 5 Things You Must Know

Dow Futures Explode More Than 250 Points

Dow Futures Explode More Than 250 Points