Ford Motor Co. has begun a broad search for candidates to replace current Chief Executive Officer Alan Mulally, who is expected to leave the company within two years, people familiar with the matter said.

Candidates for the position include at least two former Ford executives as well as two internal candidates, those people said. The internal candidates are Americas President Mark Fields, 50, and Joe Hinrichs, 45, the chief of Asian operations, reported The Wall Street Journal.

External candidates include John Krafcik, CEO of Hyundai Motor Co.'s North American arm and Phil Martens, CEO of Novelis Inc., an aluminum products company. Mr. Krafcik, 50, declined to comment; Mr. Martens, 51, declined to say if he had been contacted, adding: "I'm sure the board will make the right decision."

A Ford spokeswoman said there is no search underway. Mr. Fields said in an interview last month that he wants the job but is satisfied with his current role. Mr. Hinrichs could not be reached for comment.

Chairman Bill Ford Jr. has repeatedly said the company would like to fill the position from within. Mr. Mulally and Mr. Ford declined to be interviewed on the matter, but Mr. Ford said in a written response to questions: "At Ford, we are fortunate to have a strong list of internal candidates and the Board is pleased to support their further development. While our preference always will be to develop talent internally, we also survey the external environment for potential candidates as a regular course of action."

The search for a replacement for Mr. Mulally is the biggest question looming over Ford because his influence on the company has been so profound. Mr. Mulally has never hinted at when he wants to leave, but he is 66 years old and maintains his permanent home in Seattle, where he lived as the chief of the commercial business for Boeing Inc. before joining Ford five years ago.

"Having a viable succession plan to ensure business continuity is perhaps the most important duty of the Board and something we take very seriously," Mr. Ford wrote.

Mr. Martens led product development for Ford until 2005, when he left the company. He was at former auto supplier ArvinMeritor Inc. before joining Novelis. Mr. Krafcik worked in product development for Ford for 14 years before leaving in 2004 to join Hyundai.

Mr. Fields runs Ford's North and South American operations, the company's principal profit center. He led the recent turnaround of North America and overcame early troubles to become one of Mr. Mulally's top lieutenants. Mr. Hinrichs worked at General Motors Co. before joining Ford. He was in charge of manufacturing before being put in charge of Asia two years ago.