Ford names new CEO amid management shake-up
- Author: Zachary Reyes Jun 01, 2017,
Jun 01, 2017, 3:32
"This is a time of unprecedented change", Bill Ford Jr., the company's executive chairman and a great-grandson of Henry Ford, told reporters. This includes sharpening operational execution, modernising Ford's business and transforming the company to meet the future.
"He's a true visionary who brings a unique, human-centered leadership approach to our culture, products and services", Bill Ford said.
The official announcement is that Mr. Fields made a decision to retire after 28 with the automaker, and that Jim Hackett was chosen to run the operations of the Blue Oval.
Ford is replacing CEO Mark Fields.
Dearborn-based Ford said today that Jim Hackett will serve as its president and CEO, effective immediately.
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Ford Motor Company is set to replace boss Mark Fields amid investor unrest that the vehicle giant is falling behind its rivals. The stock price fell nearly 40% with Fields in charge, and Ford fell behind competitors in the race to develop electric and later self-driving cars.
Ford is planning to shake up its management team and will replace CEO Mark Fields with Steelcase CEO Jim Hackett, according to media reports.
The former boss of office furniture firm Steelcase joined Ford past year to run its autonomous driving division.
Hackett is the former CEO of office furniture company Steelcase.
Ford's board of directors is clearly moving in a different direction with the new CEO. He was president of Ford of Europe, Middle East and Africa. Most recently he has led Ford Smart Mobility LLC since March 2016.
Ford announced two other appointments, including Mark Truby as vice president of communications and Paul Bellow as global chief data and analytics officer.