May 22, 2017—Ford has replaced president and CEO Mark Fields, who is retiring after nearly 30 years with the automaker, according to NPR.
According to Ford's website, Fields' successor is Jim Hackett, who has overseen Ford's efforts on autonomous vehicles as chairman of Ford Smart Mobility. Hackett took that position in March 2016, after serving three years on Ford's board of directors. Previously, he was chief executive of Steelcase, an office furniture company.
Ford Smart Mobility was formed in 2016 as an effort to accelerate the company’s metamorphosis into an auto and mobility company. Its aim was to aggressively pursue emerging opportunities and “be a leader in connectivity, mobility, autonomous vehicles, the customer experience and data and analytics,” according to Ford.
The management changes became effective Monday.
Ford's stock price has fallen nearly 40 percent since Fields took the reins of the company three years ago. Just last week, Ford announced it would cut its white-collar workforce by 10 percent in North America and Asia, as the auto industry in general faces new challenges.
