Ford CEO Jim Hackett is retiring
Photo by Sean O’Kane / The Verge
Ford CEO Jim Hackett is retiring, the company announced on Tuesday, and he will be replaced by current chief operating officer Jim Farley. Hackett will stay with Ford until October to help with the transition and remain a “special advisor” through March 2021.
Hackett was installed as CEO in 2017 after previously running Ford Smart Mobility, the company’s new technologies wing. He replaced Mark Fields, who was pushed out after also spending three years on the job. Hackett led a massive restructuring effort that cost around $11 billion but was ultimately supposed to save the company some $25 billion. That plan involved the company basically abandoning sedans in the US market; rethinking its flailing operations in China, Europe, and South...
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