Ford Motor Co.'s board of directors is meeting this Thursday and CEO succession could be on the agenda.
Bloomberg reported Tuesday that the directors are close to promoting Mark Fields to chief operating officer. The report quoted an unnamed source.
The promotion would make Fields the probable successor to 67-year-old CEO Alan Mulally.
Ford said the report was speculative and wouldn't confirm it. But the company said it takes succession seriously and has a plan in place for each of its leadership positions.
Mulally is revered at Ford for turning the company around after he was hired in 2006. He has never said publicly when he will retire, but Ford is under pressure to prove it can keep its turnaround on track even after he leaves.