Reports suggest former CEO Mark Fields was ousted from the helm due to poor sales

Ford has appointed its former autonomous technology boss Jim Hackett as its new chief executive officer (CEO).

Hackett, 62, replaces former CEO Mark Fields (pictured below), with reports in the New York Times suggesting the latter was ousted following Ford’s poor global sales since he got the job in 2014. Ford's sSales have decreased by 7% in the US and 11% in Europe.

Opinion: Why Ford's ex-CEO Mark Fields wasn't the man for the job

The resulting shrink in profits has triggered a decrease in share prices of close to 40% in just over two years.

In an official statement, Ford said Hackett, who previously turned around the success of office furniture company Steelcase to make it a world leader and then served on Ford's board between 2013 to 2016, is now charged with sharpening operational execution, modernising its business and "transforming the company to meet tomorrow’s challenges".

When asked if his previous responsibility would encourage him to now push Ford's autonomous technology harder, Hackett explained that the plan would remain the same as before as the brand is already receiving heavy investment and growth. "I'll ask you to be patient with this," he added.

Ford executive chairman Bill Ford said: “We’re moving from a position of strength to transform Ford for the future. Hackett is the right CEO to lead Ford during this transformative period for the automotive industry and the broader mobility space. He’s a true visionary who brings a unique, human-centered leadership approach to our culture, products and services that will unlock the potential of our people and our business".

Hackett said: “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. 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".

Ford's leadership switch comes with a wider employment shake-up, where it has appointed new bosses for its marketing, operations and mobility divisions.

Jim Farley, 54, grows his leading role for Europe, the Middle East and Africa as the boss for Ford's global markets; Joe Hinrichs, 50, moves from his American executive vice president role to become global operations boss; and Marcy Klevorn, 57, become mobility boss, moving from his position as IT and technology leader.

The management changes come one week after Ford announced plans to reduce its Asia and North America workforces by 10%. It has 101,000 employees in North America and 23,000 in Asia.

A source with knowledge of the plan said the cuts, which are part of a $3 billion (around £2.3bn) cost-cutting scheme, are targeted directly at addressing profit and share price issues.

Ford makes Britain’s best-selling model, the Fiesta small hatchback. It has recently invested heavily in the development of autonomous vehicles and plans to bring its first autonomous-capable model to market in 2021.

Our Verdict

Ford Fiesta
Fiestas sold in Europe are ostensibly the same as those sold in America and Asia

The seventh-generation Ford Fiesta is the UK's best selling car, helped by frugal engines, handling verve and a big car feel

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Comments
13

22 May 2017
Next fiesta, Focus, Mondeo, Kuga, Ecosport, Ka all dull with dated interiors. And as they keep making threats about UK's future and don't even make a single car in the UK I won't lose sleep.
Oh and I still don't see a purpose built EV on the Horizon but then they have got an extensive development plan for autonomous vehicles, money which could have been better spent on EV R and D.

 

Hydrogen cars just went POP

22 May 2017
Or will he find it out when he goes online and reads about it on Autocar.co.uk?

22 May 2017
It seems this xxxx is a paid troll or spy because nothing he/she has posted makes any sense other than to bash certain manufacturers without any sense of knowledge about what they are moaning about...

As a past Ford owner, I don't have any bad wishes for a company that sells cars that are affordable to the masses and competes directly with more so-called prestige brands with value for money products...

Dated interior??? Does xxxx know what he/she is talking about? Look at the Ford GT compared to the bloated NSX see too the Mustang is far better than the biased media makes it... Maybe xxxx is a failing salesman for one of those losing companies??

22 May 2017
Factczech wrote:

It seems this xxxx is a paid troll or spy because nothing he/she has posted makes any sense other than to bash certain manufacturers without any sense of knowledge about what they are moaning about...

As a past Ford owner, I don't have any bad wishes for a company that sells cars that are affordable to the masses and competes directly with more so-called prestige brands with value for money products...

Dated interior??? Does xxxx know what he/she is talking about? Look at the Ford GT compared to the bloated NSX see too the Mustang is far better than the biased media makes it... Maybe xxxx is a failing salesman for one of those losing companies??

I've owned plenty of Fords and am I sorry that as a Fanboy you're upset at other people's opinion. "Ford GT compared to the NSX".., "Mustang" neither of these cars are big sellers in the Europe and you can't argue with falling sales figures upsetting as it may be. Personal insults get you no-where and just make you out to be a troll yourself.

 

Hydrogen cars just went POP

22 May 2017
xxxx wrote:

I've owned plenty of Fords and am I sorry that as a Fanboy you're upset at other people's opinion. "Ford GT compared to the NSX".., "Mustang" neither of these cars are big sellers in the Europe and you can't argue with falling sales figures upsetting as it may be. Personal insults get you no-where and just make you out to be a troll yourself.

Maybe xxxx needs to go and use a bit of data to see Mustang is the EU #1 'sports car' and outsells the 911 etc

Also, maybe you need to check the falling figures. SMMT is a good source for the UK, shows Ford up 2.99% this against 2016.

Further looking at global company reports, it appears Ford are actually taking record profits but they have chosen to invest in AI/mobility/electric vehicles

(unless I am reading it all wrong of course)

22 May 2017
Geetee40 wrote:
xxxx wrote:

I've owned plenty of Fords and am I sorry that as a Fanboy you're upset at other people's opinion. "Ford GT compared to the NSX".., "Mustang" neither of these cars are big sellers in the Europe and you can't argue with falling sales figures upsetting as it may be. Personal insults get you no-where and just make you out to be a troll yourself.

Maybe xxxx needs to go and use a bit of data to see Mustang is the EU #1 'sports car' and outsells the 911 etc

Also, maybe you need to check the falling figures. SMMT is a good source for the UK, shows Ford up 2.99% this against 2016.

Further looking at global company reports, it appears Ford are actually taking record profits but they have chosen to invest in AI/mobility/electric vehicles

(unless I am reading it all wrong of course)

Perhaps you should reread my second post "....cars are big sellers in the Europe and you can't argue with falling sales " I said Europe. And the article is about sales since 2014 in EUROPE and the USA, not about niche cars up against the 911.

 

Hydrogen cars just went POP

22 May 2017
If you want to see bloated, just take a look at the steering wheel on the ford gt. And they are marketing the interior as minimalist and race focused, but it just looks cheap and uninspiring. On a £400,000 car they should be doing much better. Lightweight and minimalist can still be made to look great, just take a look at Mclaren and Lamborghini

22 May 2017
If you want to see bloated, just take a look at the steering wheel on the ford gt. And they are marketing the interior as minimalist and race focused, but it just looks cheap and uninspiring. On a £400,000 car they should be doing much better. Lightweight and minimalist can still be made to look great, just take a look at Mclaren and Lamborghini

22 May 2017
No Factczech xxxx ain't a troll,he's hit the nail on the head, OK so both the GT & Mustang are exceptional but they're not mainstream models by any yardstick.What is mainstream the Focus (apart from dthe RS&ST) and Mondeo are hardly exciting are they?,to drag the average punter into a Ford Showroom unless someone else is paying for their car. Both the Ka+ & EcoSport are frankly rubbish third world designed and built, not even having the virtue of being cheap,take the blue oval off them and both could pass as Proton's.Yes Fields certainly deserves the boot,how many millions of dollars has he trousered during his stewardship of the company? No the UK motoring public owes Ford absolutely nothing,they ran the manoufacturing plants down here and transferred them overseas putting tens of workers out of a job.For the record I bought a Ford once a B-Max (built in Romania)which during my eight months of ownership had to be returned due to electrical problems three times and the problem was never resolved so after being on the receiving end of Ford's customer service that was enough for me,I got shot of the B-Max and bought a Subaru,now that's a company that knows about customer satisfaction

22 May 2017
Gets hired, rakes in millions in pay and bonus, runs the company down, leaves the company with millions in pay and bonus, goes to another company/board to keep on raking in millions in pay and bonus. Ousted my tuchas...

No manual - no fun

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