Ford CEO Mark Fields to be replaced by James Hackett

Ford CEO Mark Fields will be replaced by James P. Hackett who is the head of the Ford Smart Mobility Subsidiary LLC.

By: | Published: May 22, 2017 1:24 PM

Ford Motor Company's CEO Mark Fields has been asked to leave the company due to his current performance and future strategy, reported Forbes. Mark Fields will soon be replaced by the head of Ford Smart Mobility Subsidiary LLC James P. Hackett. Hackett joined Ford's board in 2013, while Fields took up the CEO's responsibilities ion 2014. Mark Fields, 56, is retiring having served the company for 28 years. Although, Ford has not made any official announcement about his firing and replacement.

Apart from this, Ford's Vice President (VP) of Communications, Ray Day will also leave his role at the company. Day will be replaced by Mark Truby, current VP of Communications of Ford's Asia-Pacific region. Jim Farlay, President of Ford's Europe, Middle East and Africa business, as well as Joseph Hinrichs, head of Ford North America will now take up new larger responsibilities. Marcy Klevorn, Ford’s chief technical officer, will replace Hackett as the head of Ford Smart Mobility LLC, Ford’s future mobility unit.

In 2014, Fields replaced Alan Mulally and executed plans to build autonomous vehicles and explore new services such as ride-hailing and car-sharing. During the time, Ford recorded pre-tax profit of $10.8 billion in 2015 soon after the new aluminum-sided F-150 pickup was launched.

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Despite this, Field was not able to fulfil his role at the company and was not able to make critical decisions about the company's strategy. It is said that he was not focusing on Ford’s core business such as the Fusion sedan. The Ford Fusion grew dated and was not able to compete with its rivals as Ford was lacking behind in electric cars in the market. Ford’s stock price fell by 40 percent in the last three years.

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    May 22, 2017 at 3:10 pm
    Ford Motor Co. will replace Chief Executive Mark Fields with Jim Hackett