Bloomberg is reporting that Ford Chief Operating Officer Mark Fields will be named as the company's next CEO when Alan Mulally retires.

Mulally, 68, has been expected to retire later this year. Fields, 53, is a 25-year Ford veteran and was named as the company's COO in late 2012.

Mulally was hired to run Ford in 2006, during a particularly difficult period for the car maker.

Arriving from Boeing, he engineered a massive restructuring program that was widely credited for saving Ford from the federally-managed bankruptcies required for General Motors and Chrysler.

Stay with Click On Detroit for more information as this story develops.

Below is a 2012 bio Local 4 did on Mark Fields when he became Ford's COO.

Mark Fields, as executive vice president and president of the Ford Americas, with a Ford Taurus at the North American International Auto Show in Detroit.

Mark Fields as Ford executive vice president and president of the Americas in 2006.

Ford CEOs from 1903 - present

Published On: Apr 21 2014 04:37:11 PM EDT   Updated On: Apr 21 2014 04:42:13 PM EDT
The ten men who've run the iconic automaker.
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John S. Gray was the founding president of Ford Motor Company. Gray ran the company from 1903-1906. Henry Ford initially served as the company's vice-president.