Today the Ford Motor Company made it official: its new President and Chief Executive Offcer is Mark Fields. Executive Director Bill Ford says Fields has--quote--"transformed several of our operations around the world into much stronger businesses during his 25 years at Ford."  He says Fields is ready to lead Ford into the future as C.E.O..

Fields is now 53 and he has been Chief Operating Officer since 2012. His first day in his new position will be July 1.

He takes over for the retiring Alan Mullaly.

Ford Names Mark Fields As Next President and C.E.O. - Photo by Getty Images