Ford chief Mark Fields departs US motor giant
Ford yesterday confirmed the departure of chief executive Mark Fields as part of a boardroom shake-up following questions over the car giant’s performance and future strategy.
The company said that the 56-year-old had “elected to retire” after 28 years at Ford and will be replaced by Jim Hackett, who joined the car maker’s board in 2013 and has led the mobility unit since last year.
The appointment is effective immediately and comes amid concerns about the company’s trajectory after a bout of weak sales.
Under Fields’ three-year tenure at the helm, Ford’s shares have tumbled almost 40 per cent and he has come under fire for not focusing enough on the core business.
Executive chairman Bill Ford said: “We’re moving from a position of strength to transform Ford for the future. Mark Fields has been an outstanding leader and deserves a lot of credit for all he has accomplished in his many roles.”