Earthquake in sight at Ford: the resignation of CEO Mark Fields has been announced. Taking his place will be Jim Hackett, currently at the helm of the Ford subsidiary Smart Mobility.
During his three years at the helm of Ford, Fields ended up in the crosshairs of investors and the group's board of directors for the disastrous results of the stock on the stock market (-40%), for the failed attempt to expand the core car business and for the slow pace with which projects for the high-tech cars of the future are progressing.
The change in leadership comes less than two weeks after the annual shareholder meeting at which Fields was roundly criticized for deteriorating financial results at Ford. Jim Hackett (62 years old), who will report to Executive Chairman Bill Ford and with whom he will focus on three priorities: "strengthen the operational strategy, modernize the current business and transform the company to face the challenges of tomorrow". Ford explained it in a note.
