Ford started its week off with sweeping changes.
The American automaker announced Monday that Mark Fields is resigning as CEO, ending a 28-year tenure with the company, according to a press release. He will be succeeded by former Steelcase CEO Jim Hackett.
Fields reportedly stepped down amid pressure from investors, though company chairman Bill Ford praised the now former executive for helping Ford survive the recession.
“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 in a statement. “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.”
Hackett’s appointment isn’t surprising, as he’s headed Ford Smart Mobility division since March 2016. The technology division is set to play a crucial role in Ford achieving its ambitious goals, which include putting an autonomous vehicle on sale by 2020.
“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, according to a press release. “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.”
In addition to the CEO change, Ford has named Paul Ballew as vice president and chief data and analytics officer, and Mark Truby as head of communications.
Ford also announced three management changes that will take effect June 1:
- Jim Farley, formerly president of Ford Europe, Middle East and Africa, will serve as executive vice president and president of global markets.
- Joe Hinrichs, formerly president of the Americas, will serve as executive vice president and president of global operations.
- Marcy Klevorn will serve as executive vice president and president of mobility.
Thumbnail photo via Ford
