Ford chief executive Mark Fields poised to leave in boardroom shake-up
Mark Fields, president and chief executive of Ford Motor Company, with the 2017 Ford Fusion at the North American International Auto Show. - Credit: PA
Ford will part company with chief executive Mark Fields amid questions about the car giant’s performance and future strategy, it was reported.
Jim Hackett, who is set to replace Mark Fields as chief executive of the company amid questions about the car giant's performance and future strategy. - Credit: PA
Mr Fields is retiring after 28 years at the company, according to several reports coming out of the US.
The 56-year-old is to be replaced by Jim Hackett, who joined Ford’s board in 2013 and has led the carmaker’s mobility unit since last year.
Under Mr Fields’ three-year tenure at the helm, Ford’s shares have tumbled almost 40% and he has come under fire for not focusing enough on the core business.
Mr Hackett is the former boss of office furniture maker Steelcase, one of the world’s largest office furniture companies.
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He is credited with transforming that company, in part by predicting the shift away from cubicles to open office plans.
He also cut thousands of jobs and moved furniture production from the US to Mexico to stem massive losses at the company.
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As part of the shake-up, several Ford executives are taking on new roles.
Jim Farley, who led the company’s European division back to profitability in recent years, will become vice president of global markets and will oversee Lincoln, sales and marketing.
Joe Hinrichs, president of Ford’s Americas division, will oversee global product development, manufacturing and quality. Marcy Klevorn, Ford’s chief technical officer, will replace Hackett as the head of Ford Smart Mobility LLC, Ford’s future mobility unit.
