Ford announces Jim Hackett as CEO after Mark Fields departure

Ford Motor Company has confirmed that Jim Hackett has been appointed as the new CEO after Mark Fields’ departure. Additionally, Ford announced a restricting of its management with three new appointees.

For the past three years, Mark Fields was the Chief Executive Officer of Ford, the second largest car manufacturer in the US. Fields took over from Alan Mulally in 2014 when Mullally retired. Prior to his appointment in 2014, Fields worked as Chief Operating Officer under Mullaly at the time.  Soon after Fields took over, Ford’s stock prices began falling significantly under his leadership.

Ford has now announced Jim Hackett will be Fields’ replacement and has also taken the liberty to make some more changes in management structuring with new appointments down the ladder.

Jim Hackett formerly led Steelcase Inc., a furniture company which under Hackett's leadership saw major growth. Hackett then served as interim Athletic Director at University of Michigan and has led Ford Smart Mobility LLC since March 2016. Hackett also served on Ford’s board from 2013 to 2016.

Ford stated that now Hackett and Executive Chairman – Bill Ford Jr. will focus on three priorities: Sharpening operational execution, Modernizing Ford’s business and Transforming the company to meet future challenges.

Hackett and Ford together will oversee the company’s global business to further enhance quality, go-to-market strategy; product launch, while decisively addressing underperforming parts of the business. Additionally, they will look towards using new tools and techniques to unleash innovation, speed decision making and improve efficiency. All of which will be working towards artificial intelligence, advanced robotics, 3D printing, leveraging big data and more.

Bill Ford stated: “We’re moving from a position of strength to transform Ford for the future. 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-centred leadership approach to our culture, products and services that will unlock the potential of our people and our business.”

“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. 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." he added.

In addition to Hackett’s appointment, Ford also announced a new management structure with three new leaders who will be reporting directly to the new CEO.

Jim Farley is now the Executive Vice President and President, Global Markets. His role will allow him to oversee Ford’s business units in The Americas, Europe, Middle East & Africa and Asia Pacific. In addition, Farley will oversee Lincoln Motor Company and global Marketing Sales & Service.

To oversee Ford’s global Product Development, Manufacturing and Labour Affairs, Quality, Purchasing, Sustainability, Environmental and Safety Engineering, Joe Hinrichs has been elevated to the position of Executive Vice President and President, Global Operations.

And finally, Marcy Klevorn, who has served as group vice president, Information Technology and Chief Information Officer since January 2017 is now executive vice president and president, Mobility. Her new role will be to 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.

The new appointment sin management will be in effect from June 1, 2017. Following his departure, Mark Fields has announced his retirement.