The Ford Motor Company(DEARBORN, Mich.) — Ford Motor Company is making a change in its leadership.
The automaker announced on Monday that Jim Hackett will be its new president and CEO, replacing Mark Fields, who, Ford says, “has elected to retire from Ford after a successful 28-year career with the company.”
Jim Hackett named #Ford president and CEO, succeeding Mark Fields, who is retiring. https://t.co/sgw6hRqxtl pic.twitter.com/f1Em4lR4aC
— Ford Motor Company (@Ford) May 22, 2017
The move comes as the company’s stock has dropped 40 percent and a week after Ford announced it was cutting 1,400 jobs.
“We’re moving from a position of strength to transform Ford for the future,” Ford Executive Chairman Bill Ford said in a statement. “Jim Hackett is the right CEO to lead Ford during this transformative period for the auto industry and the broader mobility space.
“
“He’s a true visionary who brings a unique, human-centered leadership approach to our culture, products and services that will unlock the potential of our people and our business,” he continued.
Previously, Hackett, 62, served as the CEO of Steelcase, an office furniture maker. He was also the executive chairman of Ford Smart Mobility LLC since March 2016.
“I am so excited to work with Bill Ford and the entire team to create an even more dynamic and vibrant Ford that improves people’s lives around the world, and creates value for all of our stakeholders,” Hackett said in a statement.
“I have developed a deep appreciation for Ford’s people, values and heritage during the past four years as part of the company and look forward to working together with everyone tied to Ford during this transformative period.”
Copyright © 2017, ABC Radio. All rights reserved.
