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Big 3 Auto Bailout (2008)
Mark Fields to replace Alan Mulally as Ford chief executive
Mark Fields to replace Alan Mulally as Ford chief executive

Alan Mulally, an aerospace engineer who helped Ford Motor Co. avoid the bankruptcy filings and federal bailouts of its U.S. automotive siblings, said Thursday that he will step down as the company's chief executive in July. He will be succeeded by Mark Fields, a longtime Ford executive who two years ago was named chief operating officer and Mulally's second in command. The move was approved by the company's board of directors Wednesday. --------------------FOR THE RECORD:Ford CEO: An article in the May 2 Business section about Alan Mulally's decision to step down as Ford Motor Co.'s chief executive stated that the company borrowed $23.5 million in 2006. The automaker borrowed $23.5...

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