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New Ford
CEO Jim
Hackett.
(Ford
Photo) |
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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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