REPORT: Ford Motor Will Soon Name COO Mark Fields As Its Next CEO

Ford is close to announcing current Chief Operating Officer Mark Fields as its next CEO, according to Bloomberg.

The motor company is expected to announce current CEO Alan Mulally's departure date as soon as May 1, sources familiar with the matter told Bloomberg.

Mulally, who is retiring, has previously said that he'd stay with Ford through 2014.

Mulally came to Ford from Boeing in 2006 and is credited with saving Ford from bankruptcy and adding fuel-efficient vehicles to the compnay's lineup.