NEW YORK: Ford Motor recently said that Alan Mulally will remain as its president and chief executive through at least 2014, as Americas head Mark Fields was promoted to chief operating officer, putting him in line to succeed Mulally.

Mulally, 67, will continue to lead the carmaker’s long-term development strategy while Fields, 51, will be responsible for all business operations at the second-biggest US carmaker.

“I have a great opportunity to focus even more on the long-term development,” Mulally said.

Fields has been with Ford since 1989 and will take his new position on December 1. He has been executive vice president and president of Ford’s Americas’ operation for the past seven years and will continue to report to Mulally.

Ford had recruited Mulally from Boeing in 2006 as the company was struggling with bloated operations, unpopular vehicles and a steady loss of market share to Asian competitors. Mulally led Ford through the 2008 financial crisis without seeking a government-backed bankruptcy and bailout, unlike General Motors and Chrysler, steering the company back to steady profits.

“There’s been so much speculation on whether Alan is going to stay or leave,” chairman Bill Ford said. “I’d like him to stay forever, but it’s part of our job to develop a great team,” he said, adding; “I’d be surprised if we don’t have the next CEO coming from inside.”

The announcement came two days after Ford posted a record third-quarter profit of $1.6 billion as strong growth in North America offset major losses in Europe. Ford has now posted pre-tax profits for 13 consecutive quarters as it reaps the rewards of major restructuring and product revamps in North America. But troubled Europe remains a dark cloud and the company’s unit there is projected to post a $1.5 billion loss this year.

Joe Hinrichs, 45, will replace Fields as president of the Americas after having led Ford’s operations in Asia and Africa. David Schoch, currently head of Ford China, will succeed Hinrichs in managing the Asia Pacific region. Responsibility for African operations will be transferred to Stephen Odell, who is currently in charge of Europe and the Middle East.