Shakeup at Ford as Jim Hackett Named CEO

With its stock price and sales growth under pressure, Ford Motor Company has named Jim Hackett as its new president and CEO.

Hackett, 62, served as CEO of Steelcase, Interim Athletic Director at the University of Michigan and executive chairman of Ford Smart Mobility since March 2016.

Reporting to Executive Chairman Bill Ford, Hackett will lead Ford’s worldwide operations and 202,000 employees globally. He succeeds Mark Fields, 56, who has elected to retire from Ford after a successful 28-year career with the company.

Hackett, together with Bill Ford, will focus on three priorities:

* Sharpening operational execution across the global business;
* Modernizing Ford’s business, using new tools and techniques to unleash innovation, speed decision making and improve efficiency; and
* Transforming the company to meet future challenges, ensuring the company has the right culture, talent, strategic processes and nimbleness to succeed as society’s needs and consumer behavior change over time.

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