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.

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