Ford Motor Co., in a broad management shake-up, named Jim Hackett, former CEO of Steelcase, as its new CEO, replacing Mark Fields, who is stepping down amid pressure from shareholders over a slumping stock price.
Ford said Fields, 56, has elected to retire from Ford after 28 years with the company.
“We’re moving from a position of strength to transform Ford for the future,” Executive Chairman Bill Ford said in a statement Monday. “Jim Hackett is the right CEO to lead Ford during this transformative period for the auto 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.”
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