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Ford CEO successor announced

DEARBORN (WKZO) -- Mark Fields is reported to be the next chief executive officer of Ford Motor Company.

Bloomberg is reporting that Fields will be named the company's next CEO when Alan Mulally retires. The 68-year-old, who was hired to run Ford in 2006, is expected to retire later this year.

Fields, a 25-year veteran with the automaker, was named the company's chief operating officer in 2012.