"Bloomberg" said : Ford CEO Mark Fields Said to Leave as Hackett Takes Over Job

In 2000, Fields became CEO of Mazda Motor Corp., in which Ford had a controlling stake at the time. Mark Fields Photographer: Qilai Shen/BloombergHackett, 62, revived the fortunes of office furniture maker Steelcase as CEO from 1994 to 2014 and his promotion indicates Ford is looking to seize on that expertise as consumer demands change. Ford Motor Co. is replacing embattled Chief Executive Officer Mark Fields with Jim Hackett, a turnaround specialist who has been leading the automaker's moves into self-driving cars and ride sharing, according to a person familiar with the move. Tough SituationsFields joined Ford in July 1989 and helped its businesses through several tough situations before he was named to the top job in July 2014. He led a turnaround at Mazda with several Ford executives with whom he later worked to revive the U.S. automaker's North American business.


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Ford fires CEO Mark Fields

Ford has churned out strong profits under Fields, reporting a record $10.4 billion in pretax earnings in 2016. Ford facebook/" target="_blank">shares are down nearly 40 percent since Fields, 56, took over three years ago, at the peak of the U.S. auto industry's recovery. The Wall Street Journal reported on Sunday that the company was considering new assignments for some of Fields' top lieutenants. On Friday, Silicon Valley electric car maker Tesla Inc was valued at $51 billion, more than Ford's $43 billion. "You have to have one foot in today... but also one foot in the future," Fields told reporters last month.


Fields replaced Alan Mulally in mid-2014, but lacked his predecessor's ability to rally employees around a common mission or to make critical decisions about the company's strategy. Also leaving the company is Ford's group vice president of communications, Ray Day, who will be replaced by Mark Truby, vice president of communications for Ford's Asia-Pacific operations. Ford MotorFord Motor Chief Executive Mark Fields is leaving the company, and will be replaced by the head of its Ford Smart Mobility LLC subsidiary, James P. Hackett, the company will announce Monday morning, according to a person familiar with the situation. Directors were increasingly alarmed by the deterioration in Ford's business, despite hefty profits from its flagship F-series pickup truck line, said people familiar with the board's thinking. The shakeup is a result of Executive Chairman Bill Ford and the rest of the board losing confidence in Fields' leadership, according to people familiar with the board's thinking.


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