Ford (F) will soon name Mark Fields as its next CEO, according to Bloomberg.
The second-largest U.S. automaker is expected to announce current CEO Alan Mulally’s departure date as soon as May 1, sources familiar with the matter told the publication.
Mulally, who he is credited with saving Ford from bankruptcy and adding fuel-efficient vehicles to the co.’s lineup, has previously said that he would stay with the firm through 2014.
Fields has worked for Ford for 25 years. The 53-year old emerged as Mulally’s likely successor when he was promoted to chief operating officer in December 2012, after leading the automaker’s North American operations from deep losses to record profits.
Shares of Ford closed at $15.98 on Monday.