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New Ford CEO Jim Hackett. (Ford Photo)

  Fields out, Hackett in as Ford Motors makes changes at the top

By Wendell Bryant/Tell Us Detroit

DEARBORN - Ford Motor Company today named Jim Hackett as its new president and CEO and announced key global leadership changes designed to further strengthen its core automotive business and accelerate a strategic shift to capitalize on emerging opportunities.

Ford, short on details, would only say: "We are staying focused on our plan for creating value and profitable growth. We do not comment on speculation or rumors.”

Ford shares fell roughly 40 percent since Fields replaced former CEO Alan Mulally in July 2014. This caused Wall Street investors to increase pressure on the company. And with a ten percent drop in value which came in the first five months of this year, Ford’s financial health raised doubts in stockholders about its management direction.

Jim Hackett is chairman of Ford Smart Mobility LLC, a subsidiary of Ford Motor Company formed to accelerate the company’s plans to design, build, grow and invest in emerging mobility services. He was named to the position March 10, 2016.

Ford Smart Mobility LLC is part of Ford’s expanded business model to be both an auto and a mobility company. The company is aggressively pursuing emerging opportunities through Ford Smart Mobility, the company’s plan to be a leader in connectivity, mobility, autonomous vehicles, the customer experience and data and analytics.

He was the CEO of Steelcase for 20 years and is credited with transforming that company, in part by predicting the shift away from cubicles and into open office plans. He cut thousands of jobs and moved furniture production from the U.S. to Mexico to stem massive losses at the company.

In an interview, Ford Motor Co. Executive Chairman Bill Ford insisted that Fields wasn't fired. He called Fields "an outstanding leader" who orchestrated the company's turnaround a decade ago when he was head of Ford's Americas division.

"He and I sat down Friday and really decided this was the right time for him to go and for us to have new leadership," Ford said.

Fields resurrected Ford's luxury Lincoln brand and grew sales in China. His bet on using aluminum for Ford's trucks paid off in terms of better fuel economy and strong sales. Fields opened an office in Silicon Valley to hire talented young researchers and scout out promising startups.

Bill Ford and Ford’s Board of Directors thanked Fields for his significant contributions to the company.

“Mark Fields has been an outstanding leader and deserves a lot of credit for all he has accomplished in his many roles around the globe at Ford," Bill Ford said. “His strong leadership was critical to our North American restructuring, our turnaround at the end of the last decade, and our record profits in the past two years."

Also today, Ford announced a new structure for its operations and named three new leaders reporting to Hackett:

Jim Farley, 54, is appointed executive vice president and president, Global Markets. In this role, Farley will oversee Ford’s business units, The Americas; Europe, Middle East & Africa and Asia Pacific. In addition, Farley will oversee Lincoln Motor Company and global Marketing Sales & Service. Farley has served as executive vice president and president, Ford of Europe, Middle East and Africa since January 2015. Farley will also oversee the strategy and business model development for electrified vehicles and autonomous vehicles.

Joe Hinrichs, 50, is appointed executive vice president and president, Global Operations. In this role, Hinrichs will oversee Ford’s global Product Development; Manufacturing and Labor Affairs; Quality; Purchasing; and Sustainability, Environmental and Safety Engineering; Hinrichs has been serving as Ford executive vice president and president, The Americas, since December 2012.

Marcy Klevorn, 57, is appointed executive vice president and president, Mobility. In this role, Klevorn will oversee Ford Smart Mobility LLC, which was formed last year to accelerate the company’s plans to design, build, grow and invest in emerging mobility services, as well as Information Technology and Global Data, Insight and Analytics. Klevorn has served as group vice president, Information Technology and Chief Information Officer since January 2017.

All three appointments are effective June 1. New leaders to succeed Hinrichs, Farley and Klevorn will be the subject of a future announcement.

 

 

 

 

 

 

 

 

 

   
   
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