Mark Fields was at the helm of Ford since mid-2014.
Replacing Fields as Ford CEO is Jim Hackett, former CEO of Steelcase Inc. Hackett has led Ford Smart Mobility LLC since March 2016 and served on the American automaker’s board from 2013 to 2016. Ford said in its official statement that Fields “is retiring,” but it is reported that Fields has been fired as a result of the company’s slumping stock price, which has dropped nearly 40 percent while he was CEO.
Fields replaced Alan Mulally as CEO in mid-2014 and previously served as CEO of Mazda when it was controlled by Ford. He was also COO and president of the company’s Americas division, having been with Ford since 1989.
His replacement, along with executive chairman Bill Ford, will focus on three priorities: Sharpening operational execution, modernizing Ford’s present business and transforming the company to meet tomorrow’s challenges. As former CEO of Steelcase Inc., Hackett led the company to become the world’s number-one office furniture maker and has also served as interim athletic director at University of Michigan. Hackett will report to executive chairman Bill Ford and is recognized as a transformational business leader.
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“We’re moving from a position of strength to transform Ford for the future,” Bill Ford said. “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.”
Three new leaders have also been appointed who will report to Hackett. Jim Farley is the new executive vice president and president of global markets, while Joe Hinrichs has been appointed executive vice president and president of global operations. Marcy Klevorn has been named executive vice president and president of mobility. Those three appointments will be effective starting June 1, 2017.
In addition, Ford has appointed Mark Truby as vice president of communications effective immediately, reporting to Bill Ford. Paul Ballew has also been elected as global chief data and analytics officer, reporting to Klevorn.
